134 The Debt Management Account
Finance Act 1999 (1999 c 16) | Legislation

Government borrowing etc

134  The Debt Management Account

(1)     Schedule 5A to the National Loans Act 1968 (the Debt Management Account) shall be amended in accordance with subsections (2) to (6) below.

(2)     In paragraph 1(2) (objects of the Treasury's operation of the Debt Management Account), after paragraph (b) there shall be inserted—

“(ba)     meeting any request to borrow money from the Treasury, made by the Bank of England;”.

(3)     After paragraph 5 there shall be inserted—

“5

(1)     Where the Treasury raise money by virtue of paragraph 4 above, they shall exercise their powers under this Schedule so as to secure that the principal amount is repaid within the period of one year beginning with the day

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