s 2 Guarantees and other arrangements in national interest.
(1) For the purpose of encouraging trade with other countries or for the purpose of rendering economic assistance to countries outside the United Kingdom, the Secretary of State may, with the consent of the Treasury, make arrangements for giving such guarantees to, or for the benefit of, persons carrying on business in the United Kingdom as appear to him to be expedient in the national interest; and subsection (3) of section 1 above shall have effect in relation to a guarantee given under this subsection as it has effect in relation to a guarantee given under that section. (2) For either of the purposes mentioned in subsection (1) above, the Secretary of State may, with the consent of the Treasury, make arrangements for facilitating, in cases in which it appears to him expedient in the national interest so to do, the payment of sums payable under contracts with persons carrying on business in the United Kingdom.