Water Act 1989

Financial provisions

183 General financial provisions

There shall be paid out of money provided by Parliament—

(a) any administrative expenses or charges incurred by any Minister of the Crown or Government department in consequence of the provisions of this Act; and

(b) any increase attributable to this Act in the sums payable out of money so provided under any other Act.

184 Government guarantees

(1) This section applies in relation to any guarantee given by the Secretary of State under section 25(2) or 84(2) above or by the Secretary of State or the Minister under paragraph 20 of Schedule 1 to this Act.

(2) Immediately after a guarantee to which this section applies is given, the guarantor shall lay a statement of the guarantee before each House of Parliament; and where any sum is paid out for fulfilling such a guarantee the guarantor shall, as soon as possible after the end of each financial year (beginning with that in which the sum is paid out and ending with that in which all liability in respect of the principal of the sum and in respect of the interest thereon is finally discharged), lay before each House of Parliament a statement relating to that sum.

(3) Any sums required by the Secretary of State or the Minister for fulfilling a guarantee to which this section applies shall be paid out of money provided by Parliament.

(4) Without prejudice, in the case of a guarantee given under section 25(2) above, to any provision applied in relation to the relevant person by Schedule 6 to this Act, if any sums are paid out in fulfilment of a guarantee to which this section applies, the relevant person shall make to the guarantor, at such times and in such manner as the guarantor may from time to time direct—

(a) payments of such amounts as the guarantor may so direct in or towards repayment of the sums so paid out; and

(b) payments of interest, at such rate as the guarantor may so direct, on what is outstanding for the time being in respect of sums so paid out;

and the consent of the Treasury shall be required for the giving of a direction under this subsection.

(5) Any sums received by the Secretary of State or the Minister under subsection (4) above shall be paid into the Consolidated Fund.

(6) In subsection (4) above “the relevant person”, in relation to a guarantee, means the person who borrowed the sums in respect of which the guarantee was given.