Point in time view as at 31/12/2024.
There are currently no known outstanding effects for the Financial Services and Markets Act 2023, Paragraph 158.
158(1)Where the Treasury propose to make a loan to or in respect of a CCP, they may arrange for money to be paid out of the National Loans Fund.
(2)The Treasury may make arrangements under sub-paragraph (1) only where they think it necessary to make the loan urgently in order to protect the stability of the UK financial system
(3)The Treasury may determine—
(a)the rate of interest on a loan, and
(b)other terms and conditions.
(4)Sums received by the Treasury in respect of loans by virtue of this paragraph must be paid into the National Loans Fund.
(5)Neither section 16 of the Banking (Special Provisions) Act 2008 (finance) nor any other enactment restricts the breadth of application of this paragraph.
(6)Where money is paid in reliance on sub-paragraph (1) the Treasury must as soon as is reasonably practicable lay a report before Parliament specifying the amount paid (but not the identity of the CCP or other institution to or in respect of which it is paid).
(7)If the Treasury think it necessary on public interest grounds, they may delay or dispense with a report under sub-paragraph (6).
Commencement Information
I1Sch. 11 para. 158 not in force at Royal Assent, see s. 86(3)
I2Sch. 11 para. 158 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)
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