Section 67 Lending by the Secretary of State.

United Kingdom

(1)

The Treasury may issue to the Secretary of State out of the National Loans Fund such sums as are required by him for making loans under section 66.

(2)

The aggregate at any time outstanding in respect of the principal of sums borrowed under F1section 66(1) shall not exceed F2£1,910.141 million.

(3)

The Secretary of State may by order made with the consent of the Treasury substitute for the amount (or substituted amount) specified in subsection (2) such F3... amount as may be specified in the order.

F4(3A)

An amount substituted under subsection (3) may be more or less than the amount for which it is substituted but may not be less than F5£1.75 billion.

(4)

Sums received by the Secretary of State under section 66(3) shall be paid into the National Loans Fund.

Annotations

Textual amendments

F1: Words in s. 67(2) substituted (12.12.2014) by Scotland Act 2012 (c. 11), ss. 32(7), 44(4)(b); S.I. 2014/3250, art. 2
F2: Sum in s. 67(2) substituted (30.6.2026) by The Scotland Act 1998 (Increase of Borrowing Limits) Order 2026 (S.I. 2026/713), arts. 1(2), 2(2)
F3: Word in s. 67(3) omitted (12.12.2014) by virtue of Scotland Act 2012 (c. 11), ss. 32(8), 44(4)(b); S.I. 2014/3250, art. 2
F4: S. 67(3A) inserted (12.12.2014) by Scotland Act 2012 (c. 11), ss. 32(9), 44(4)(b); S.I. 2014/3250, art. 2
F5: Sum in s. 67(3A) substituted (1.4.2017) by Scotland Act 2016 (c. 11), ss. 20(7), 72(5); S.I. 2016/1178, reg. 2(a)