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Permanent annual charge and sums payable thereout.
29 & 30 Vict. c. 39.
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2.—[Sub-s. (1) rep. 62 & 63 Vict. c. 9, s. 16.]
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(2) There shall be payable as part of the permanent annual charge for the National Debt—
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(a) All such perpetual and terminable annuities, and the interest on all such Exchequer Bonds and other debts as are specified in part one of the First Schedule to this Act; and
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(b) All interest on advances made by the Bank of England or the Bank of Ireland in pursuance of section twelve of the Exchequer and Audit Departments Act, 1866; and
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(c) The interest on all loans borrowed under any Act on account of ways and means; and
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(d) The annual amounts payable for the time being to the Bank of England and Bank of Ireland for the management of, or expenses connected with, the National Debt, or any part thereof.
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(3) There shall not be payable as part of the permanent annual charge for the National Debt—
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(a) the deferred annuities, or the interest on the Exchequer bonds, specified in part two of the First Schedule to this Act; or
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(b) any annuities or the interest on any Exchequer bonds, Exchequer bills, Treasury bills, or other loans created, issued, or borrowed under any Act passed after the passing of this Act, which does not direct the same to be payable as part of the said permanent annual charge.
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[S. 3 rep. 8 Edw. 7. c. 49 (S.L.R.).]
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