No versions valid at: 01/11/1998
Point in time view as at 01/11/1998. This version of this provision is not valid for this point in time.
Government of Wales Act 1998, Section 82 is up to date with all changes known to be in force on or before 01 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Valid from 01/12/1998
(1)The Secretary of State may from time to time lend to the Assembly such sums as it appears to the Assembly are required for the purpose of—
(a)meeting a temporary excess of expenditure by the Assembly over its receipts, or
(b)providing the Assembly with a working balance.
(2)The Treasury may issue to the Secretary of State out of the National Loans Fund such sums as he needs for making loans under this section.
(3)Any loans which the Secretary of State makes under this section shall be repaid to him at such times, and interest on them shall be paid to him at such rates and at such times, as the Treasury from time to time determine.
(4)Sums received by the Secretary of State under subsection (3) shall be paid into the National Loans Fund.
(5)The aggregate outstanding in respect of the principal of loans made under this section shall not exceed £500 million.
(6)The Secretary of State may from time to time by order made with the consent of the Treasury substitute for the amount specified in subsection (5) such greater amount as is specified in the order.
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