(1)Any loans which the Minister makes under section . . . F1 11 of this Act shall be repaid to him at such times and by such methods, and interest thereon shall be paid to him at such rates and at such times, as he may, with the approval of the Treasury, from time to time direct.
(2)The Treasury may issue out of the [F2National Loan Fund] to the Minister such sums as are necessary to enable him to make loans under section . . . F1 11 of this Act.
(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
(4)Any sums received by the Minister under subsection (1) of this section shall be paid into the [F2National Loan Fund] . . . F4
(5)The Minister shall, as respects each financial year, prepare in such form and manner as the Treasury may direct an account of sums issued to him under this section and of the sums to be paid into the [F2National Loan Fund] under subsection (4) of this section and of the disposal by him of those sums respectively, and send it to the Comptroller and Auditor General not later than the end of November following the year; and the Comptroller and Auditor General shall examine, certify and report on the account and lay copies of it, together with his report, before each House of Parliament.
Textual Amendments
F1Words repealed by Transport Act 1981 (c. 56, SIF 58), Sch. 12 Pt. II
F2Words substituted by National Loans Act 1968 (c. 13, SIF 99:3), Sch. 1
F3S. 43(3) repealed by National Loans Act 1968 (c. 13, SIF 99:3), Sch. 6 Pt. I but not so as to affect any money borrowed before 1.4.1968, or any requirement as respects any account or statement for the year ending on 31.3.1968 or any earlier year
F4Words repealed by National Loans Act 1968 (c. 13, SIF 99:3), Sch. 6 Pt. I but not so as to affect any money borrowed before 1.4.1968 or any requirement as respects any account statement for the year ending on 31.3.1968 or any earlier year
Modifications etc. (not altering text)
C1S. 43(1) amended by National Loans Act 1968 (c. 13, SIF 99:3), Sch. 1