The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020

Public Works Loans Act 1875

21.—(1) Section 22 (powers of Commissioners when in possession) is amended as follows.

(2) In the heading for “Commissioners” substitute “the Treasury”.

(3) In the words before subsection (1)—

(a) for “Loan Commissioners” substitute “Treasury”; and

(b) after “authorised” insert “by this Act”.

(4) In subsection (1) for “secretary of the Commissioners” substitute “Public Works Loans Secretary”.

(5) In subsection (2) –

(a) for “The Commissioners may by themselves” substitute “The Treasury,”;

(b) after “aforesaid” insert “, may”; and

(c) for “their secretary” substitute “the Public Works Loans Secretary”.

(6) In subsection (3) –

(a) for “Commissioners” substitute “Treasury” in both places occurring; and

(b) for “their secretary” substitute “the Public Works Loans Secretary”.

(7) In subsection (4) for “The Commissioners may, with the consent of the Treasury,” substitute “The Treasury may”.

(8) In subsection (5) –

(a) for “the Commissioners may, with the consent of the Treasury,” substitute “the Treasury may”; and

(b) for “neither the Commissioners, nor their secretary” substitute “neither the Treasury, nor the Public Works Loans Secretary”.

(9) In subsection (6) –

(a) for “the Commissioners” substitute “the Treasury” in the first place occurring;

(b) for “the secretary of the Commissioners” substitute “the Public Works Loans Secretary”; and

(c) for “the Commissioners” substitute “the Treasury” in the third place occurring.