Introduction Summary
1.This section requires the Commissioners for the Reduction of the National Debt (“the Commissioners”) to pay to the Consolidated Fund surplus sums held by them by virtue of their investments under section 17 of the National Savings Bank Act 1971 (“the 1971 Act”).
2.The section also gives a power to the Treasury to repeal or amend any enactment, by order, where the amendment is required as a consequence of the closure of ordinary accounts or the transfer of the surplus to the Consolidated Fund.