OpenLegislation

Section 3A Power of the Commissioners to borrow etcF1

(1)

The Treasury may—

(a)

arrange for loans to be issued to the Commissioners out of the National Loans Fund;

(b)

provide financial assistance (including by way of loan) to the Commissioners out of money provided by Parliament.

(2)

In the case of a loan issued under subsection (1)(a)—

(a)

the Treasury may determine the rate of interest on the loan (and, accordingly, section 5 of the National Loans Act 1968 applies), and

(b)

the Treasury must pay any sums received in respect of the loan into the National Loans Fund.

Annotations

Textual amendments

F1

S. 3A inserted (11.5.2025) by Crown Estate Act 2025 (c. 7), ss. 1(4), 7(2)