- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
(1)The Treasury shall from time to time pay out of the Consolidated Fund into the National Loans Fund sums equal to the excess of the amounts required to meet charges on the National Loans Fund for the service of national debt over the amounts paid into the National Loans Fund which represent interest on loans by the Government or which, in the opinion of the Treasury, ought to be treated in the same way as interest on loans by the Government.
(2)Notwithstanding the provisions of section 13 of the [1866 c. 39.] Exchequer and Audit Departments Act 1866, payments under this section shall be effected without the granting of credits by the Comptroller and Auditor General.
(3)In this section " charges on the National Loans Fund for the service of national debt" means all payments to be made out of the National Loans Fund which represent—
(a)interest on debt charged on the National Loans Fund,
(b)expenses incurred in connection with the raising of money or the issue, repayment or redemption of securities,
(c)money required for the purpose of carrying out any arrangement under the last foregoing section, or
(d)sums payable under subsection (6) or (7) of section 16 of this Act.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: