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Commonwealth Development Corporation Act 1995

Consolidated Text As Enacted Cited authorities 10 Cited in Amendments 16 Related
Vincent
JurisdictionUK Non-devolved
Citation1995 c. 9
Year1995
for “£750 million” there shall be substituted “ £1,100 million ”; andfor “£850 million” there shall be substituted “ £1,500 million ”.(2) In subsection (1) of section 10 of that Act (which provides for the making of advances by the Secretary of State to the Corporation up to a certain limit) , the words “up to” onwards shall cease to have effect.(1) In section 12 of the (2) After subsection (3) of that section there shall be inserted the following subsection—
  • “(3A) Nothing in this section shall be taken to prevent the Secretary of State, if he has the approval of the Treasury, from making interest-free advances to the Corporation under section 10(1) above.
Nothing in this section shall be taken to prevent the Secretary of State, if he has the approval of the Treasury, from making interest-free advances to the Corporation under section 10(1) above.(3) For section 13 of that Act (power of Secretary of State to remit certain debts of the Corporation) there shall be substituted—
    (13) Power to remit interest on advances.The Secretary of State may, with the consent of the Treasury, remit the payment by the Corporation under section 12(1) above of interest on the whole or any part of the amount outstanding in respect of an advance under section 10(1) above, being interest for such period (beginning after the commencement of the Commonwealth Development Corporation Act 1995) as he may with the consent of the Treasury determine.
The Secretary of State may, with the consent of the Treasury, remit the payment by the Corporation under section 12(1) above of interest on the whole or any part of the amount outstanding in respect of an advance under section 10(1) above, being interest for such period (beginning after the commencement of the Commonwealth Development Corporation Act 1995) as he may with the consent of the Treasury determine.(1) Schedule 1 to the (2) For paragraph 3 (which makes provision in relation to the remuneration and allowances of members of the Corporation) there shall be substituted the following paragraph—
    (3) The Corporation shall pay to the members of the Corporation such remuneration and allowances as may be determined by the Secretary of State.
The Corporation shall pay to the members of the Corporation such remuneration and allowances as may be determined by the Secretary of State.(3) In paragraph 4 (which makes provision in relation to the

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