(1)In the enactments mentioned in Schedule 2 to this Act (which enable the Treasury to guarantee the repayment of the principal of, and the payment of interest on, sums borrowed by the bodies mentioned in the third column of that Schedule) for the words “and the payment of interest on” or “and the payment of any interest on” there shall be substituted the words “the payment of interest on and the discharge of any other financial obligation in connection with”.
(2)In section 11(1) of the M1Commonwealth Development Corporation Act 1978 (Treasury guarantees in respect of sums borrowed by the Commonwealth Development Corporation) for the words “and the payment of interest and other charges on” there shall be substituted the words “the payment of interest on and the discharge of any other financial obligation in connection with”.
(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
(4)In section 8 of the M2Overseas Development and Co-operation Act 1980 (Treasury guarantees in respect of certain loans made by the International Bank)—
(a)in subsection (1), for the words “and the payment of the interest on and other charges in respect of” there shall be substituted the words “the payment of interest on and the discharge of any other financial obligation in connection with”;
(b)in subsection (5)(d)(i), for the words “charges in respect of” there shall be substituted the words “payments in discharge of financial obligations in connection with”;
(c)in subsection (6), for the words “other charges in respect of” there shall be substituted the words “the discharge of any other financial obligation in connection with”.
(5)In section 62(1) of the M3New Towns Act 1981 (Treasury guarantees in respect of sums borrowed by a development corporation or the Commission for the New Towns) for paragraphs (a) and (b) there shall be substituted the words “the repayment of the principal of, the payment of interest on and the discharge of any other financial obligation in connection with”.
Textual Amendments
F1S. 4(3) repealed by Electricity Act 1989 (c. 29, SIF 44:1), s. 112(3)(4), Sch. 17 para. 35(1), Sch. 18
Marginal Citations