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22.—(1) HMRC must collect repayments from borrowers in accordance with Chapters 3 and 4 of this Part, and the provisions of section 1 of the 1970 Act apply for those purposes as they apply for the purposes of income tax.
(2) HMRC must, at such time and in such manner as the Treasury may direct, account for, and pay to, the Secretary of State the sums estimated by HMRC (in the manner so directed) to have been collected by it as repayments in accordance with Chapters 3 and 4 of this Part.
(3) Payments to the Secretary of State do not include any interest, penalties or charges payable under Chapter 3 or 4 of this Part and HMRC must cause any such sums which it recovers to be paid, at such times and under such regulations as the Treasury may from time to time prescribe, to accounts to be entitled “The Account of Her Majesty’s Exchequer”, at the Bank of England and the sums so paid form part of the Consolidated Fund.
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