2(1)For the purpose of the exercise of any of its functions Scottish Enterprise—S
(a)may, subject to such conditions as F1. . .the Secretary of State thinks fit to impose, borrow from him, and he may lend to it out of money provided by Parliament, sums of such amounts as he may, with such consent, determine; and
(b)may, with the consent of the Secretary of State F1. . .borrow money, whether in sterling or otherwise, from any other person or body, whether in the United Kingdom or elsewhere.
(2)Scottish Enterprise may borrow money from any of its wholly-owned subsidiaries without obtaining the consent of the Secretary of State.
Textual Amendments
F1Words in Sch. 2, para. 2(a)(b) repealed (1.7.1999) by S.I. 1999/1820, arts. 1(2), 4, Sch. 2 Pt. 1 para. 100(9), Pt. IV
3SAny loans made in pursuance of paragraph 2(1)(a) above shall be repaid to the Secretary of State at such times and by such methods, and interest on the loans shall be paid to him at such times and at such rates, as he may from time to time F2. . .direct; and all sums received by the Secretary of State in pursuance of this paragraph shall be paid into the Consolidated Fund.
Textual Amendments
F2Words in Sch. 2 para. 3 repealed (1.7.1999) by S.I. 1999/1820, arts. 1(2), 4, Sch. 2 Pt. I para. 100(9), Pt. IV