125 National Savings ordinary accounts: surplus funds
Finance Act 2009 (2009 c 10) | Legislation

125  National Savings ordinary accounts: surplus funds

(1)     As soon as practicable after the passing of this Act—

(a)     the Director of Savings and the Commissioners must prepare a statement showing the relevant surplus, and

(b)     the Commissioners must pay the relevant surplus into the Consolidated Fund.

(2)     The relevant surplus is the amount held by the Commissioners by virtue of section 17 of the 1971 Act (including any such amount held in investments), less the aggregate of—

(a)     such sums as the Treasury may determine to be equal to those expended by the Director of Savings in connection with ordinary accounts,

(b)

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