Presentation by Ms. Alejandra Cruz Ross, Technical Officer, Transport Sector, Sectoral Activities Department

During the eighteen financial years ending on the thirty-first day of March, nineteen hundred and sixty-eight, the Treasury may, subject as hereinafter provided, issue from time to time out of the Consolidated Fund of the United Kingdom (hereinafter referred to as " the Consolidated Fund ") sums not exceeding in the aggregate one hundred and forty million pounds, to be applied as appropriations in aid of moneys provided by Parliament for those years for the provision of approved housing accommodation in Great Britain for married persons serving in, or employed in connection with, the armed forces of the Crown, being accommodation the cost of the provision of which would, apart from this Act, fall to be defrayed out of moneys provided by Parliament for the service of the Ministry of Public Building and Works: Provided that the amount so issued for any year to defray expenditure of that Ministry in respect of the provision of such approved accommodation as aforesaid shall not at any date exceed the aggregate of the amounts proposed to be so issued to defray that expenditure by the estimates upon which the House of Commons has, before that date, resolved to grant sums to Her Majesty to defray that expenditure for that year. For the purpose of providing sums (or any part of sums) to be issued under the foregoing subsection, or of providing for the replacement of all or any part of sums so issued, the Treasury may, at any time, if they think fit, raise money in any manner in which they are authorised to raise money under the National Loans Act 1939, and any securities created and issued to raise money under this subsection shall be deemed for all purposes to have been created and issued under that Act. The following provisions of this subsection shall have effect as respects the repayment of sums issued under subsection (1) of this section, that is to say— Sums paid into the Exchequer under the last foregoing subsection shall be issued out of the Consolidated Fund at such times as the Treasury may direct, and shall be applied by the Treasury as follows, that is to say— In this section the expression " approved " means approved for the purposes of this Act by the Treasury.