The National Enterprise Board and the Scottish and Welsh Development Agencies

4 Public dividend capital. C1

F11

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2

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3

In paragraph 1 of Schedule 3 to the M1Welsh Development Agency Act 1975, after sub-paragraph (3) there shall be inserted—

3A

The Agency may with the agreement of the Secretary of State, and shall if the Secretary of State with the approval of the Treasury requires them to do so, make payments to the Secretary of State in reduction of the public dividend capital of the Agency; and any sums received by the Secretary of State in pursuance of this sub-paragraph shall be paid into the Consolidated Fund.