Payments to and from the Agency
2 Payments to and from the Agency.
1
The Secretary of State may with the consent of the Treasury make out of money provided by Parliament—
a
any payment in cash required to be made by the United Kingdom under Article 7(i) of the Convention;
b
any payment required to be made by the United Kingdom for redeeming such notes or obligations as are there mentioned; and
c
any payment required to be made by the United Kingdom under Article 7(ii) of the Convention.
2
The Secretary of State may with the consent of the Treasury by order make provision—
a
for the payment out of money provided by Parliament of any sums required by the Secretary of State for making any other payments by the United Kingdom under the Convention; and
b
for the payment into the Consolidated Fund of any sums received by the United Kingdom in pursuance of the Convention.
3
The power to make an order under subsection (2) above shall be exercisable by statutory instrument; and no such order shall be made unless a draft of it has been laid before and approved by the House of Commons.