# Energy Act 2004, Paragraph 9


(1) The Secretary of State may guarantee—
(a) the repayment of the principal of any sum borrowed by the Police Authority;
(b) the payment of interest on such a sum; and
(c) the discharge of any other financial obligation of the Police Authority in connection with the borrowing of such a sum.
(2) The Secretary of State may give a guarantee under this paragraph in such manner, and on such terms, as he thinks fit.
(3) As soon as practicable after giving a guarantee under this paragraph, the Secretary of State must lay a statement of the guarantee before Parliament.
(4) If sums are paid out by the Secretary of State under a guarantee given under this paragraph, the Police Authority must pay him—
(a) such amounts in or towards the repayment to him of those sums as he may direct; and
(b) interest, at such rates as he may direct, on amounts outstanding under this sub-paragraph.
(5) Payments to the Secretary of State under sub-paragraph (4) must be made at such times, and in such manner, as he may from time to time direct.
(6) Where a sum has been paid out by the Secretary of State under a guarantee given under this paragraph, he must lay a statement relating to that sum before Parliament—
(a) as soon as practicable after the end of the financial year in which that sum is paid out; and
(b) as soon as practicable after the end of each subsequent relevant financial year.
(7) In relation to a sum paid out under a guarantee, a financial year is a relevant financial year for the purposes of sub-paragraph (6) unless—
(a) before the beginning of that year, the whole of that sum has been repaid to the Secretary of State under sub-paragraph (4); and
(b) the Police Authority is not at any time during that year subject to a liability to pay interest on amounts that became due under that sub-paragraph in respect of that sum.
(8) The consent of the Treasury is required—
(a) for the giving of a guarantee under this paragraph; and
(b) for the giving of a direction under sub-paragraph (4) or (5).

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Source: https://www.legislation.gov.uk/ukpga/2004/20/schedule/10/paragraph/9 (the official version)
Page: https://openlegislation.uk/energy-act-2004/schedule-10/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.