Consolidated Fund (No. 1) Act 1929 (Session 2)
| Jurisdiction | UK Non-devolved |
| Citation | 1929 c. 11 |
| Year | 1929 |
Consolidated Fund (No. 1) Act, 1929 (Session 2)
(20 & 21 Geo. 5.) CHAPTER 11.
An Act to apply a sum out of the Consolidated Fund to the service of the year ending on the thirty-first day of March, one thousand nine hundred and thirty.
[20th December 1929]
Most Gracious Sovereign,
W E, Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards making good the supply which we have cheerfully granted to Your Majesty in this session of Parliament, have resolved to grant unto Your Majesty the sum hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
1 Issue of 5,416,670l out of the Consolidated Fund for the service of the year ending 31st March 1930.
1. The Treasury may issue out of the Consolidated Fund of the United Kingdom and apply towards making good the supply granted to His Majesty for the service of the year ending on the thirty-first day of March, one thousand nine hundred and thirty, the sum of five million four hundred and sixteen thousand six hundred and seventy pounds.
2 Power for the Treasury to borrow.
(1) The Treasury may borrow from any person, by the issue of Treasury Bills or otherwise, and the Bank of England and the Bank of Ireland may advance to the Treasury on the credit of the said sum, any sum or sums not exceeding in the whole four million two hundred and sixteen thousand six hundred and seventy pounds.
(2) The date of payment of any Treasury Bills issued under this section shall be a date not later than the thirty-first day of March, one thousand nine hundred and thirty, and section six of the Treasury Bills Act, 1877 (which relates to the renewal of bills), shall not apply with respect to those bills.
(3) Any money borrowed otherwise than on Treasury Bills shall be repaid, with interest not exceeding five pounds per centum per annum, out of the growing produce of the Consolidated Fund, at any period not later than the next succeeding quarter to that in which the money was borrowed.
(4) Any money borrowed under this section shall be placed to the credit of the...
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