Loan regulations, loan arrangements or transfer arrangements may include provision about repayment of loans to a loan purchaser.

A provision of loan regulations or loan arrangements which requires money to be paid to the Secretary of State or into the Consolidated Fund (whether as repayment, interest, charge or penalty) shall be treated in relation to a transferred loan as requiring payment to the loan purchaser (whether directly, through the Secretary of State or through another agent).

Subsection (3) is subject to any provision included in transfer arrangements by virtue of section 2.

In section 44(2)(e) of the Commissioners for Revenue and Customs Act 2005 (c. 11) (payment into Consolidated Fund: exceptions) after “Minister of the Crown” insert “ or other person ”.