Section 4 Provisions supplementary to sections 1 to 3.I1

(1)

Transactions entered into in pursuance of arrangements made under sections 1 to 3 of this Act may be on such terms and conditions as the Secretary of State considers appropriate.

(2)

The powers of the Secretary of State under those sections are exercisable only with the consent of the Treasury and such consent may be given in relation to particular cases or in relation to such descriptions of cases as may be specified in the consent.

(3)

In those sections—

(a)

“business” includes a profession,

(b)

“guarantee” includes indemnity,

(c)

references to persons carrying on business, in relation to things done outside the United Kingdom, include persons carrying on any other activities, and

(d)

references to things done in or outside the United Kingdom are to things done wholly or partly in or, as the case may be, outside the United Kingdom.

(4)

References in this and those sections to the United Kingdom include the Isle of Man and the Channel Islands.

Annotations

Commencement

I1: S. 4 wholly in force at 23.10.1991 see s. 15(6) and S.I. 1991/2430, art. 2

Notes on Part I

Commencement

I1: Part I wholly in force at 23.10.1991 see s. 15(6) and S.I. 1991/2430, art. 2