(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
(2)If, under any agreement made, whether before or after the passing of this Act, between His Majesty’s Government in the United Kingdom and any other Government concerning obligations arising out of or in connection with any war in which His Majesty has been engaged between the third day of September, nineteen hundred and thirty-nine and the passing of this Act, His Majesty’s Government in the United Kingdom accept, in respect of those obligations, or in respect of sums advanced by that other Government to enable those obligations to be discharged, a liability to make payments over a period of years—
(a)that liability shall, if the Treasury so direct, be treated for all purposes as a liability arising under a security issued under the M1National Loans Act 1939, providing for the discharge of that liability on the terms set out in the agreement; and
(b)any sum advanced as aforesaid by the other Government shall be paid into the Exchequer . . . F2
(3)In this Act, the expression “the Consolidated Fund” means the Consolidated Fund of the United Kingdom . . . F3
Textual Amendments
F1S. 1(1) repealed by National Loans Act 1968 (c. 13), Sch. 6 Pt. I
F2Words repealed by National Loans Act 1968 (c. 13), Sch. 6 Pt. I
F3Words repealed by Statute Law Revision Act 1963 (c. 30)
Marginal Citations