Expenditure on financial assistance for the provision of infrastructure
1
1
There may be paid out of money provided by Parliament expenditure incurred—
a
by the Treasury, or
b
by the Secretary of State with the consent of the Treasury,
in giving, or in connection with giving, financial assistance to any person in respect of the provision of infrastructure.
2
“Infrastructure” includes—
a
water, electricity, gas, telecommunications, sewerage or other services,
b
railway facilities (including rolling stock), roads or other transport facilities,
c
health or educational facilities,
d
court or prison facilities, and
e
housing.
3
“Provision” includes acquisition, design, construction, conversion, improvement, operation and repair.
4
In this Act “financial assistance” means loans, guarantees or indemnities, or any other kind of financial assistance (actual or contingent).
5
Expenditure which could be paid out of money provided by Parliament under subsection (1) is to be charged on and paid out of the Consolidated Fund if—
a
the expenditure is incurred under an agreement entered into by the Treasury or the Secretary of State, and
b
the Treasury are satisfied that arrangements cannot reasonably be made for the expenditure to be paid out of money provided by Parliament.
6
Where money is paid in reliance on subsection (5), the Treasury must as soon as is reasonably practicable lay a report before Parliament specifying the amount paid.
7
References in this Act to infrastructure assistance are to financial assistance the giving of which is in reliance on the authority provided by this section.
8
Nothing in this Act applies in relation to the giving of financial assistance under a statutory power.