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Light Railways Act 1896
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- UK Public General Acts
- 1896 c. 48
- Section 6
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6Limitation on amount of advance and provision of money by National Debt Commissioners
(1)The total amount advanced by the Treasury under this Act shall not at any one time exceed one million pounds, of which a sum not exceeding two hundred and fifty thousand pounds may be expended for the purpose of special advances under this Act.
(2)The National Debt Commissioners may lend to the Treasury, and the Treasury may borrow from the National Debt Commissioners, such money as maybe required for the purpose of advances by the Treasury under this Act, on such terms as to interest, sinking fund, and period of repayment (not exceeding thirty years from the date of the loan) as may be agreed on between the National Debt Commissioners and the Treasury.
(3)The sums so lent by the National Debt Commissioners shall be repaid out of money provided by Parliament for the purpose, and if and so far as that money is insufficient shall be charged on, and payable out of, the Consolidated Fund, or the growing produce thereof.
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