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Finance Act 1998

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This is the original version (as it was originally enacted).

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.

(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 [1968 c. 13.] 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 [1993 c. 34.] 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 [1968 c. 13.] National Loans Act 1968 or Treasury bills issued under the [1877 c. 2.] Treasury Bills Act 1877;

(c)impose on the National Debt Commissioners a duty to transfer securities issued under section 12 of the [1968 c. 13.] National Loans Act 1968 at such price as the Treasury may determine;

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

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