Ordnance Factories and Military Services Act 1984
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Change 1
16 Military services.
(1) The Secretary of State may out of money provided by Parliament pay sums— (a) in connection with the exercise by him of any functions of his which arise from his holding of shares in International Military Services Limited, or (b) in consequence of arrangements (whether made before or after the coming into force of this Act) for the provision by him of financial support for that company, whether by making loans to it, giving guarantees in respect of money borrowed by it, or underwriting in whole or in part any losses which may be incurred by it, or by any other method which the Secretary of State considers appropriate. (2) The aggregate outstanding at any time in respect of sums paid and commitments made under subsection (1)(b) (whether before or after the coming into force of this Act) shall not exceed £50 million or such greater sum not exceeding £100 million as the Secretary of State may specify by order made with the Treasury’s consent. (3) The power to make an order under subsection (2) shall be exercisable by statutory instrument, and no such order shall be made unless a draft of the order has been laid before and approved by resolution of the House of Commons. (4) Any sums received by the Secretary of State by way of repayment of or return on sums paid by him under this section shall be paid into the Consolidated Fund.
16 Military services.
(1) The Secretary of State may out of money provided by Parliament pay sums— (a) in connection with the exercise by him of any functions of his which arise from his holding of shares in International Military Services Limited, or (b) in consequence of arrangements (whether made before or after the coming into force of this Act) for the provision by him of financial support for that company, whether by making loans to it, giving guarantees in respect of money borrowed by it, or underwriting in whole or in part any losses which may be incurred by it, or by any other method which the Secretary of State considers appropriate. (2) The aggregate outstanding at any time in respect of sums paid and commitments made under subsection (1)(b) (whether before or after the coming into force of this Act) shall not exceed £50 million or such greater sum not exceeding £100 million as the Secretary of State may specify by order made with the Treasury’s consent. (3) The power to make an order under subsection (2) shall be exercisable by statutory instrument, and no such order shall be made unless a draft of the order has been laid before and approved by resolution of the House of Commons. (4) Any sums received by the Secretary of State by way of repayment of or return on sums paid by him under this section shall be paid into the Consolidated Fund.
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