F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
(3)The following provisions of this subsection shall have effect as respects the repayment of sums issued under subsection (1) of this section, that is to say—
(a)the aggregate of the sums so issued in any financial year shall be repaid into the [F3National Loans Fund], as mentioned in the next following paragraph, with interest thereon [F4at such rate as the Treasury may determine], the said interest accruing, as respects the whole aggregate, from the end of that year;
(b)the said aggregate shall be repaid by sixty equal annual instalments of principal and interest combined, the first of such instalments falling due at the end of the financial year next following that in which the sums in question were issued and one of the remainder falling due at the end of each of the fifty-nine succeeding financial years;
(c)any instalment to be paid into the [F3National Loans Fund] under the last foregoing paragraph shall be paid out of moneys provided by Parliament for [F4the service of the Ministry of Defence].
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
F1(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 1(1)(5) repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.IX.
F2S. 1(2)(4) repealed with saving by National Loans Act 1968 (c. 13), s. 24(2), Sch. 6 Pt. I
F3Words substituted by National Loans Act 1968 (c. 13), s. 2, Sch. 1
F4Words substituted by Armed Forces (Housing Loans) Act 1965 (c. 9), s. 1, Sch. Pt. I para. 2
F5Words repealed by Armed Forces (Housing Loans) Act 1965 (c. 9), s. 1, Sch. Pt. I paras. 2, 3
Modifications etc. (not altering text)
C1S. 1 set out as amended by Armed Forces (Housing Loans) Act 1965 (c. 9) in Pt. II of the Sch. to that Act
C2Power to amend s. 1(3) given by Armed Forces (Housing Loans) Act 1958 c. 1 (7 & 8 Eliz. 2), s. 2
