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National Loans Act 1968

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This is the original version (as it was originally enacted).

17Repeal of provisions for paying off debt, or applying sums to meet interest charges

(1)Section 5 of the [1875 c. 45.] Sinking Fund Act 1875 (the old sinking fund) and section 48 of the [1930 c. 28.] Finance Act 1930 (provision for deficit in any year: sums to be applied in following year in the same manner as the old sinking fund) shall cease to have effect.

(2)So much of any enactment as provides for sums paid into the Consolidated Fund to be applied in redeeming or paying off debt (that is to say national debt) or meeting such part of the annual charges for the national debt as represents interest, shall cease to have effect.

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