Part 10

Insolvency

Money

Insolvency Services Accounts
272
1
Section 405 of the Insolvency Act 1986 (operation of Investment Account) shall cease to have effect.
2
The following shall be substituted for section 408 of that Act (recourse to Consolidated Fund)—

Adjustment of balances
408
1
The Treasury may direct the payment out of the Consolidated Fund of sums into—
a
the Insolvency Services Account;
b
the Investment Account.
2
The Treasury shall certify to the House of Commons the reason for any payment under subsection (1).
3
The Secretary of State may pay sums out of the Insolvency Services Account into the Consolidated Fund.
4
The National Debt Commissioners may pay sums out of the Investment Account into the Consolidated Fund.