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Mr. Skeet
asked the Secretary of State for Energy what Treasury control is anticipated over moneys flowing into and out of the National Oil Account under Part V.
Mr. Varley
The National Oil Account to be established under the Petroleum and Submarine Pipe-lines Bill will be a Government account under the control of the Secretary of State. Treasury consent is needed for, among other things, payments into the account out of the National Loans Fund and out of the account into the Consolidated Fund.