New Towns Act 1981

Payments to Secretary of State E+W

63 Secretary of State’s general power. E+W

(1) The Secretary of State may direct a development corporation F1 ... to pay to him, on the date specified in the direction, such sum as is so specified, and any sum so received by him shall, subject to section 66(2) below, be paid into the Consolidated Fund.

(2) Before giving a direction under this section the Secretary of State shall consult the corporation F2 ....

(3) The debt shall carry interest at the rate for the time being in force under section 32 of the M1 Land Compensation Act 1961 F3 ... from the date specified in the direction until payment.

F4 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Words in s. 63(1) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 17(2), Sch. 16; S.I. 2009/803, arts. 3(1), 10

F2 Words in s. 63(2) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 17(3), Sch. 16; S.I. 2009/803, arts. 3(1), 10

F3 Words in s. 63(3) repealed by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(2), Sch. 4

F4 S. 63(4) repealed by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(2), Sch. 4

Modifications etc. (not altering text)

C1 S. 63 excluded (S.) by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(1), Sch. 3 para. 9

Marginal Citations

M1 1961 c. 33.

64 Disposal of land to comply with direction under s. 63. E+W

(1) Where, in order to comply with a direction under section 63 above, the corporation . . . F5 considers it desirable to dispose of any land, it may do so by virtue of this section.

(2) The power of disposal by virtue of this section may be exercised notwithstanding [F6 section 17(1) above and any implied restriction in Part I of this Act on the circumstances in which property of a development corporation may be disposed of, but otherwise must be exercised in accordance with the said Part I except that, before giving the corporation directions under section 5(2), the Secretary of State shall consult the corporation (unless he is satisfied that, on account of urgency, such consultation is impracticable].

(3)–(8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7

Textual Amendments

F5 Words repealed by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(1)(2), Sch. 3 para. 10(a), Sch. 4

F6 Words substituted by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(1), Sch. 3 para. 10(b)

F7 S. 64(3)–(8) repealed by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(1)(2), Sch. 3 para. 10(c), Sch. 4

Modifications etc. (not altering text)

C2 S. 64 excluded (S.) by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(1), Sch. 3 para. 9

65 Disposal of surplus funds. E+W

(1) This section applies where it appears to the Secretary of State, after consultation with the Treasury [F8 and any development corporation, that the corporation has a surplus whether on capital or on revenue account after making allowance by way of transfer to reserve or otherwise for its future requirements].

(2) [F9 That corporation] shall, if the Secretary of State after such consultation so directs, pay to the Secretary of State such sum not exceeding the amount of that surplus as may be specified in the direction, and any sum so received by him shall be paid into the Consolidated Fund, subject to section 66(2) below.

Textual Amendments

F8 Words in s. 65(1) substituted (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 18(2); S.I. 2009/803, art. 3(1)

F9 Words in s. 65(2) substituted (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 18(3); S.I. 2009/803, art. 3(1)

66 Payments under ss. 63 and 65 treated as repayments. E+W

(1) The whole or part of any payment made to the Secretary of State under section 63 or section 65 above shall, if the Secretary of State with the Treasury’s approval so determines, be treated—

[F10 (a) as made by way of repayment of such part of the principal of advances under section 58(1) above, and]

(b) as made in respect of the repayments due at such times, as may be so determined.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11

(2) Any sum treated under subsection (1) as a repayment of a loan shall be paid by the Secretary of State into the National Loans Fund.

Textual Amendments

F10 S. 66(1)(a) substituted (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 19; S.I. 2009/803, art. 3(1)

F11 Words repealed by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(2), Sch. 4

Modifications etc. (not altering text)

C3 S. 66 excluded (S.) by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(1), Sch. 3 para. 9