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(1)Sections 48, 50 and 51 of the [1946 c. 64.] Finance Act 1946 (which establish the National Land Fund for the purpose of making such payments as are mentioned in section 8 above and contain other provisions superseded by this Part of this Act) and section 7 of the [1953 c. 49.] Historic Buildings and Ancient Monuments Act 1953 (which enables payments to be made out of that Fund for various other purposes) shall cease to have effect.
(2)Subsection (1) above does not affect subsection (4) of the said section 48 (accounts) in relation to any receipts into or payments out of the National Land Fund at any time before that section ceases to have effect.
(3)The Treasury shall, within six months of the date on which the said section 48 ceases to have effect, cancel all investments of the National Land Fund in debt charged on the National Loans Fund.
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