Finance Act 1998

Commencement U.K.

3 (1) The amendments made by this Schedule shall have effect in accordance with provision made by the Treasury by an order (or orders) made by statutory instrument. U.K.

(2) Different provision may be made—

(a) for different amendments;

(b) for different purposes of the same amendment.

(3) In particular, provision may be made for the Debt Management Account to begin operating at different times with regard to different objects (as set out in paragraph 1(2) of Schedule 5A to the M1 National Loans Act 1968).

(4) Any order may include such supplementary, incidental, consequential, transitional or saving provisions as appear to the Treasury to be necessary or expedient.

(5) In particular, any order may—

(a) provide that any liability of the National Debt Commissioners to the National Loans Fund arising for the purposes of accountancy practice by virtue of section 211 of the M2 Finance Act 1993 shall be treated as discharged in circumstances prescribed by the order;

(b) confer power to acquire, hold or transfer securities issued under section 12 of the M3 National Loans Act 1968 or Treasury bills issued under the M4 Treasury Bills Act 1877;

(c) impose on the National Debt Commissioners a duty to transfer securities issued under section 12 of the M5 National Loans Act 1968 at such price as the Treasury may determine;

(d) confer power to advance sums from the National Loans Fund.

Subordinate Legislation Made

P1 Sch. 26 para. 3 power fully exercised (25.10.1999): 15.11.1999 appointed by S.I. 1999/2908, art. 2(2) (with arts. 5-7)

Marginal Citations

M1 1968 c. 13.

M2 1993 c. 34.

M3 1968 c. 13.

M4 1877 c. 2.

M5 1968 c. 13.