(1)For the purpose of enabling a new town commission to meet liabilities properly chargeable to their capital account relating to their development functions (including the provision of working capital), the Ministry may, subject to subsection (3), make to the new town commission advances of such amounts repayable over such periods and on such terms as may be approved by the Ministry of Finance.
(2)For the purpose of enabling a new town commission to meet any other expenditure, the Ministry may make grants to the new town commission of such amounts as may be approved by the Ministry of Finance.
(3)The aggregate amount of the advances made under subsection (1) shall not exceed [F1 fifty-five million pounds].
(1)In respect of each new town commission the Ministry shall for each financial year prepare, in such form and manner and at such times as the Ministry of Finance may direct, an account of—
(a)any sums advanced to the commission under section 44; and
(b)any sums received by the Ministry from the commission and paid into the Exchequer under section 46(3)( b).
(2)On or before 30th June in each year the Ministry shall transmit to the Comptroller and Auditor-General the account prepared under subsection (1) in respect of the last-preceding financial year.
(3)The Comptroller and Auditor-General shall examine and certify each account transmitted to him under subsection (2) and shall lay a copy of the account, together with his report thereon, before Parliament.
(1)There shall be defrayed out of moneys provided by Parliament or, to the extent that the Ministry of Finance so directs, by means of sums charged on and issued out of the Consolidated Fund—
(a)any expenses incurred by the Ministry under this Act, including, in particular,
(i)any sum payable under section 4 in respect of the acquisition of any land;
Heads (ii) (iii) spent
(iv)any compensation payable under section 30(4) to any person in respect of the diminution of any benefit enjoyed by him under a local Act or order;
(v)any payment to a new town commission under section 31(6) to make good any deficit such as is described in that subsection;
(vi)any deficit that falls to be defrayed by the Ministry under section 33(3) on the winding up of a new town commission;
(vii)any compensation under section 35 for loss of employment by or diminution of the emoluments of any officer or servant to whom that section applies;
Head (viii) spent
(ix)any compensation payable by the Ministry for damage caused to property in or in consequence of the exercise of a right of entry under section 41;
(x)any advances made to a new town commission under section 44(1) (but subject to the limit on the aggregate of such advances under section 44(3));
(xi)any grants made to a new town commission under section 44(2); and
(b)any increase, attributable to any provision of this Act, in the sums that are authorised or required to be so defrayed under any other enactment.
(2)For the purpose of providing the sums issued out of the Consolidated Fund under subsection (1), the Ministry of Finance may borrow money.
(3)There shall be paid into the Exchequer—
(a)any sums received by the Ministry in consideration of any disposition of land by the Ministry under section 5;
(b)any sums received by the Ministry by way of repayment of or interest on advances under section 44.