Section 14 Expenses and receipts.

United Kingdom

(1)

Subject to subsection (2) below—

(a)

all expenses incurred by the Secretary of State under this Act shall be defrayed out of money provided by Parliament;

(b)

all sums received by the Secretary of State by virtue of this Act shall be paid into the Consolidated Fund.

(2)

If—

(a)

any amount required for fulfilling any guarantee given under this Act, or

(b)

any sum required by the Secretary of State for fulfilling his liabilities under an agreement under section 11 above,

is not paid out of money provided by Parliament, it shall be charged on and paid out of the Consolidated Fund.

Notes on the whole Act

F1: Act repealed (23.10.1991) by Export and Investment Guarantees Act 1991 (c. 67), s. 15(4)(with saving in s. 15(5)); S.I. 1991/2430, art.2.