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(1)A Secretary of State, or such other Minister of the Crown as may be designated in that behalf by Order in Council under the Ministers of the M1Crown (Transfer of Functions) Act 1946 is hereby authorised to continue for the time being the performance, on behalf of whatever government or governments may be concerned, of functions as to the making of payments and other matters similar to the functions which, up to the appointed day, the Secretary of State was performing on behalf of governments constituted or continued under the M2Government of India Act 1935.
(2)The functions referred to in subsection (1) of this section include functions as respects the management of, and the making of payments in respect of, government debt, and any enactments relating to such debt shall have effect accordingly:
Provided that nothing in this subsection shall be construed as continuing in force so much of any enactment as empowers the Secretary of State to contract sterling loans on behalf of any such Government as aforesaid . . . F1
(3),(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
Textual Amendments
F1Words repealed by Statute Law (Repeals) Act 1976 (c. 16), Sch. 1 Pt. VII
F2Ss. 14(3)(4), 16, 18(3)–(5), 19, Schs. 1, 2 repealed by Statute Law (Repeals) Act 1976 (c. 16), Sch. 1 Pt. VII
Modifications etc. (not altering text)
C1Unreliable marginal note.
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