Government Resources and Accounts Bill - continued        House of Lords
Public-private partnerships - continued

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Investment: limit.     18. - (1) The Treasury shall ensure that the aggregate of outstanding expenditure under section 16(1)(b) and (c) does not at any time exceed £400 million.
 
      (2) For the purpose of subsection (1)-
 
 
    (a) outstanding expenditure in respect of the acquisition of assets, securities and rights shall be taken to be the aggregate of amounts paid for the acquisition of assets, securities and rights which have not been disposed of,
 
    (b) outstanding expenditure in respect of a loan shall be taken to be the amount outstanding in respect of the principal,
 
    (c) outstanding expenditure in respect of a guarantee shall be taken to be the aggregate of amounts which have been paid in fulfilment of it and in respect of which the Treasury have not been reimbursed, and
 
    (d) the Treasury shall make arrangements for evaluating outstanding expenditure in respect of anything done under section 16(1)(b) or (c) which is not addressed by paragraphs (a) to (c) above.
      (3) The Treasury may by order substitute a new amount for the amount for the time being specified in subsection (1).
 
      (4) An order under subsection (3)-
 
 
    (a) shall be made by statutory instrument, and
 
    (b) shall not be made unless a draft has been laid before, and approved by resolution of, each House of Parliament.
Expenditure: supplementary.     19. - (1) Expenditure by the Treasury for the purposes of section 16 shall, subject to subsection (2), be paid out of money provided by Parliament.
 
      (2) Sums required for fulfilling guarantees given under section 16 shall be charged on and issued out of the Consolidated Fund.
 
      (3) Sums received by the Treasury in connection with anything done under section 16 shall be paid into the Consolidated Fund.
 
Investment by devolved administrations.     20. - (1) Any of the following may incur expenditure for the purpose of investing in the body mentioned in section 16-
 
 
    (a) the Scottish Ministers,
 
    (b) the Northern Ireland departments, and
 
    (c) the National Assembly for Wales.
      (2) Subsection (1)-
 
 
    (a) shall have effect notwithstanding an enactment which restricts the activities of a person or body mentioned in that subsection to matters relating to a particular Part or area of the United Kingdom, and
 
    (b) shall not be construed as preventing or restricting any action which a person or body has power to take without reliance on that subsection.
      (3) The power under subsection (1) may be used only for the purpose of-
 
 
    (a) the acquisition from the Treasury of shares of a kind which are required by the body's articles of association to be issued to the Treasury (and which may be transferred by the Treasury), and
 
    (b) such other forms of investment (whether by the acquisition of assets, securities, rights or otherwise) as the Treasury may specify by order.
      (4) An order under subsection (3)(b)-
 
 
    (a) may relate generally to persons and bodies mentioned in subsection (1) or to one or more specified persons or bodies,
 
    (b) may make different provision for different purposes,
 
    (c) shall be made by statutory instrument, and
 
    (d) shall be subject to annulment in pursuance of a resolution of either House of Parliament.
 
Value Added Tax
Supplies by government departments.     21. - (1) This section applies where a government department makes supplies of goods or services which are taxable supplies for the purposes of the Value Added Tax Act 1994.
 
      (2) The Treasury may make arrangements-
 
 
    (a) about the treatment of receipts and payments in respect of value added tax in accounts under section 5 or 7;
 
    (b) for the exemption of receipts in respect of value added tax, to such extent and on such conditions as may be specified, from any requirement for payment into the Consolidated Fund.
      (3) For the purposes of this section "government department" has the same meaning as it has for the purposes of section 41 of the Value Added Tax Act 1994 (application to the Crown).
 
      (4) Section 21 of the Finance Act 1999 (accounting for VAT by departments) shall cease to have effect.
 
 
Miscellaneous
Alteration of timetables for accounts.     22. - (1) The Treasury may by order substitute a new date for a date for the time being specified in section 5, 6 or 7.
 
      (2) An order under subsection (1)-
 
 
    (a) may specify a new date for all purposes or for specified purposes only,
 
    (b) may specify different dates for different purposes,
 
    (c) shall be made by statutory instrument, and
 
    (d) shall be subject to annulment in pursuance of a resolution of the House of Commons.
      (3) Before making an order under subsection (1) the Treasury shall consult the Comptroller and Auditor General.
 
Treasury directions.     23. A direction of the Treasury under-
 
 
    (a) this Act, or
 
    (b) the Exchequer and Audit Departments Act 1921,
       may be revoked or amended by a further direction.
 
 
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