Section 6 Receipts and expenditure.

England and Wales

(1)

All receipts of the Corporation other than—

(a)

receipts determined by the Corporation in accordance with any directions under section 2(4) above to be required to be retained for meeting F1any of its expenses and

(b)

receipts consisting of sums borrowed under section 13 of the M1Industry Act 1980 or section 4 above,

shall be paid over to the Secretary of State.

(2)

The expenses of the Corporation incurred in the exercise of its functions under this Act, . . . F2, shall, except in so far as they are met out of the receipts of the Corporation, be defrayed by the Secretary of State.

Annotations

Textual amendments

F1: Words substituted by Industrial Development Act 1985 (c. 25, SIF 64), s. 3
F2: Words repealed by Industrial Development Act 1985 (c. 25, SIF 64), s. 6(3), Sch.

Marginal citations

M1: 1980 c. 33.

Notes on the whole Act

Textual amendments

F1: Act repealed (1.4.1994 subject to transitional provisions) by 1993 c. 23, s. 187(2), Sch. 22; S.I. 1994/935, arts. 2-4.