SCHEDULE 26 National Loans
Finance Act 1998 (1998 c 36) | Legislation

SCHEDULE 26 National Loans

Section 160

Amendment of National Loans Act 1968 (c 13)

1

(1)     The National Loans Act 1968 shall be amended as follows.

(2)     After section 20 there shall be inserted—

“The Debt Management Account
20A The Debt Management Account

Schedule 5A to this Act (the Debt Management Account) shall have effect.â€

(3) After Schedule 5 there shall be inserted—

“SCHEDULE 5A
The Debt Management Account
The account
1

(1)     The Treasury shall establish an account to be known as the Debt Management Account.

(2)     The Treasury shall operate the Debt Management Account with the objects of—

(a)     securing over time that sums are available to meet any daily shortfalls in the National Loans Fund and that any daily surpluses in that Fund are used to the best advantage;

(b)     facilitating the raising of money under section 12 of this Act;

(c)     promoting the liquidity, stability and efficiency of the market in securities issued under section 12 of this Act and the market in Treasury bills issued under the Treasury Bills Act 1877;

(d)     providing a facility by which public bodies may exercise their powers to acquire and transfer such securities and bills;

(e)

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