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Article 3 Relevant Payments

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

The Secretary of State may, on behalf of the Government, out of money provided by Parliament—

(a)

make payments to the Fund not exceeding £79.19 million in accordance with arrangements made between the Government and the Fund in accordance with the Resolution; and

(b)

make payment of sums required to redeem any non-interest-bearing and non-negotiable notes or other obligations which may be issued or created by him and accepted by the Fund pursuant to the arrangements mentioned in paragraph (a).