Page:Public General Statutes 1896.djvu/27

1896. the financial year ending the thirty-first day of March one thousand eight hundred and ninety-six shall instead of being applied as provided by the above-mentioned Act, be set apart in the Exchequer account and applied by the Treasury at such times as they direct, as follows:


 * (a) in paying off with interest any sum borrowed under the Naval Works Act, 1896;
 * (b) in repaying to the Consolidated Fund any sums issued in pursuance of the Naval Works Act, 1895, and not already repaid;
 * (c) in paying any sums authorised by this or any future Act to be issued out of the Consolidated Fund for the purpose of the works specified in the schedule to this Act.

5.—(1.) The Admiralty shall cause to be made out an account in the form required by the Treasury, showing-:—
 * (a) the aggregate amount of money expended for any purpose of this Act or of the Naval Works Act, 1895, and the purposes on which that money was expended, distinguishing the expenditure under each of the heads in the schedule to this Act;


 * (b) the aggregate amount of money borrowed and repaid, and securities (if any) created for borrowing the same and discharged; and
 * (c) the balance (if any) of the sums authorised to be issued for any such purpose.

(2.) The accounts of expenditure under this Act shall be audited and reported upon by the Comptroller and Auditor-General as appropriation accounts in manner directed by the Exchequer and Audit Departments Act, 1866

6. This Act may be cited as the Naval Works Act, 1896.