4(1)The Agency may borrow temporarily, by way of overdraft or otherwise, such sums as it may require for meeting its obligations and exercising its functions—U.K.
(a)in sterling from the Secretary of State; or
(b)with the consent of the Secretary of State, or in accordance with any general authority given by the Secretary of State, either in sterling or in a currency other than sterling from a person other than the Secretary of State.
(2)The Agency may borrow otherwise than by way of temporary loan such sums as it may require—
(a)in sterling from the Secretary of State; or
(b)with the consent of the Secretary of State, in a currency other than sterling from a person other than the Secretary of State.
(3)The Secretary of State may lend to the Agency any sums it has power to borrow from him under sub-paragraph (1) or (2).
(4)The Treasury may issue to the Secretary of State out of the National Loans Fund any sums necessary to enable him to make loans under sub-paragraph (3).
(5)Loans made under sub-paragraph (3) 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 determine.
(6)All sums received by the Secretary of State under sub-paragraph (5) shall be paid into the National Loans Fund.
(7)The approval of the Treasury shall be required for the giving of any consent or authority under sub-paragraph (1) or (2), the making of any loan under sub-paragraph (3) or the making of any determination under sub-paragraph (5).