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Version status: Not yet in force | Document consolidation status: Updated to reflect all known changes
Version date: 12 February 2009 - onwards
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172. Investing in National Loans Fund

After section 223 of the Financial Services and Markets Act 2000 (management expenses) insert -

"223A Investing in National Loans Fund

(1) Sums levied for the purpose of maintaining a contingency fund may be paid to the Treasury.

(2) The Treasury may receive sums under subsection (1) and may set terms and conditions of receipts.

(3) Sums received shall be treated as if raised under section 12 of the National Loans Act 1968 (and shall therefore be invested as part of the National Loans Fund).

(4) Interest accruing on the invested sums may be credited to the contingency fund (subject to any terms and conditions set under subsection (2)).

(5) The Treasury shall comply with any request of the scheme manager to arrange for the return of sums for the purpose of making payments out of a contingency fund (subject to any terms and conditions set under subsection (2))."

Comparing proposed amendment...