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Power of Treasury to borrow by means of Exchequer bonds as well as by means of terminable annuities.
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1.—(1) The Treasury may, if they think fit, borrow, by means of the issue of Exchequer bonds, the whole or part of any sums which at the time of the passing of this Act they are authorised under any Act (in this Act referred to as the enabling Act) to borrow by means of terminable annuities, and may also so borrow any sums which are required for paying off any bonds so issued.
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(2) Provision shall be made by the Treasury, out of moneys annually provided by Parliament for the services for which any loan is raised by means of Exchequer bonds under this Act, for the payment of the interest on the loan and also for discharge of the loan within a period not exceeding the maximum period fixed for the terminable annuities under the enabling Act.
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