Town and Country Planning Act 1954

64 General financial provisions

(1) The Treasury may issue to the Minister and to the Central Land Board out of the Consolidated Fund such sums as are necessary to enable the Minister and the Board respectively to make any payments becoming payable by him or them under any provision of Part I or V of this Act.

(2) For the purpose of providing sums to be issued under the preceding subsection, or of providing for the replacement of sums so issued, the Treasury may at any time, if they think fit, raise money in any manner in which they are authorised to raise money under the National Loans Act, 1939, and any securities created and issued to raise money under this subsection shall be deemed for all purposes to have been created and issued under that Act.

(3) The provisions of this subsection shall have effect as to the repayment of sums issued under subsection (1) of this section, that is to say—

(a) the aggregate of the sums so issued in any financial year, whether to the Minister or to the Central Land Board, shall be repaid by the Minister into the Exchequer, as mentioned in the next following paragraph, with interest thereon at such rate as the Treasury may determine, the said interest accruing, as respects the whole aggregate, from such date in the financial year in which the sums are issued as the Treasury may determine;

(b) the said aggregate shall be repaid by twenty equal annual instalments, of principal and interest combined, falling due on the anniversary of the date determined under the preceding paragraph, the first such instalment falling due in the financial year next following the financial year in which the sums in question were issued ;

(c) subject to the next following subsection, any instalment to be paid into the Exchequer under the last preceding paragraph shall be paid out of moneys provided by Parliament.

(4) Any sums received by the Minister or by the Central Land Board—

(a) by virtue of subsection (4) of section forty-six of this Act;

(b) under subsections (1) to (5) of section fifty-two of this Act; or

(c) under subsection (6) of the said section fifty-two, or under that subsection as applied by regulations made under subsection (8) of that section, not being in either case sums recovered by reference to compensation payable under Part II of this Act or to compensation to which Part IV of this Act applies,

shall be paid into the Exchequer, and shall be treated as paid in satisfaction, or part satisfaction, of such one or more instalments payable under the last preceding subsection as the Treasury may determine.

(5) All sums paid into the Exchequer under the two last preceding subsections shall be issued, out of the Consolidated Fund at such times as the Treasury may direct, and shall be applied by the Treasury as follows:—

(a) so much thereof as represents principal shall be applied in redeeming or paying off debt of such description as the Treasury think fit;

(b) so much thereof as represents interest shall be applied to the payment of interest which would, apart from this paragraph, have fallen to be paid out of the permanent annual charge for the National Debt.

(6) The Minister and the Central Land Board shall each prepare, in respect of each financial year, in such form and manner and at such times as the Treasury may direct, an account of the sums issued to them respectively out of the Consolidated Fund under subsection (1) of this section, and of any such sums received by them respectively as are mentioned in subsection (4) of this section.

(7) On or before the thirtieth day of November in each year, the Minister and the Central Land Board shall transmit to the Comptroller and Auditor General the account prepared by him or them under the last preceding subsection in respect of the last preceding financial year, and the Comptroller and Auditor General shall examine and certify each such account and lay before each House of Parliament copies thereof, together with his report thereon.

(8) There shall be paid out of moneys provided by Parliament—

(a) any sums necessary to enable the Minister to make any payment becoming payable by him under any provision of Part II or IV of this Act;

(b) any administrative expenses of the Minister under this Act;

(c) to such extent as may be sanctioned by the Treasury, any administrative expenses incurred for the purposes of this Act by the Central Land Board with the approval of the Minister ;

(d) any sum falling to be paid by the Central Land Board under subsection (2) of section fifty-four of this Act;

(e) any sum falling to be paid by the Commissioners of Customs and Excise by virtue of section fifty-eight of this Act;

(f) any increase attributable to the provisions of this Act in the sums which under any other enactment are payable out of moneys so provided.

(9) Subject to the preceding provisions of this section, and to the provisions of section forty-one of this Act, any receipts of the Minister or the Central Land Board under any provision of this Act other than this section shall be paid into the Exchequer.

(10) As soon as practicable after—

(a) the expiration of a period of five years commencing with the date of commencement of this Act; or

(b) the expiration of the financial year in which the aggregate of all payments made by the Minister under Parts II and IV of this Act reaches thirty million pounds,

whichever is the earlier, the Minister shall lay before Parliament a report with respect to those payments and to any sums received by him under this Act other than such sums as are mentioned in subsection (4) of this section.