The Secretary of State may from time to time make to the Council such grants as he thinks fit in respect of expenses incurred or to be incurred by the Council in discharging their functions under this Act, and may make to the Council such loans as he thinks fit in respect of the initial expenses incurred or to be incurred by the Council in establishing the register.

Where the Secretary of State incurs expenses under paragraph 2 of Schedule 1 to this Act in connection with the first election of the Council he shall be deemed to have made to the Council a loan of an amount equal to the amount of the expenses incurred.

Any loan made, or deemed to be made, to the Council by the Secretary of State under the foregoing provisions of this section shall be subject to such terms and conditions, and shall be repaid to him at such times, as he may, with the approval of the Treasury, direct.

Any expenses incurred by the Secretary of State under this Act shall be defrayed out of moneys provided by Parliament.

Any sums received by the Secretary of State under this Act shall be paid into the Exchequer.