2(1)Subject to paragraphs 5 and 6, the Secretary of State may, with the approval of the Treasury, make loans of such amounts as he thinks fit to—U.K.
(a)a designated BNFL company which is publicly controlled; or
(b)a publicly controlled transferee company which is not a designated BNFL company.
(2)Loans which the Secretary of State makes under this paragraph must be repaid to him at such times and by such methods as he may direct from time to time.
(3)Interest on such loans must be paid to the Secretary of State at such rates and at such times as he may so direct.
(4)The approval of the Treasury is required for a direction under sub-paragraph (2) or (3).
(5)The Secretary of State must pay sums received by him by virtue of this paragraph into the Consolidated Fund.
Commencement Information
I1Sch. 7 para. 2 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1