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Aviation Security Act 1982

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This is the original version (as it was originally enacted).

36Power to wind up the Fund

(1)The Secretary of State may at any time by order provide for the winding up of the Aviation Security Fund and, on the completion of the winding up, for the return to each manager of an aerodrome by whom contributions have been made to the Fund of a share of the net assets standing to the credit of the Fund which bears the same proportion to those assets as the manager's contributions to the Fund in the last twelve months during which contributions were made to the Fund bear to the total contributions made by managers of aerodromes to the Fund during those twelve months.

(2)On such day as is declared by the Secretary of State by order to be that on which the winding up was completed sections 32(1), (5), (6) and (7) and 33 of this Act shall cease to have effect, and as from that day subsections (2) and (4) of section 32 of this Act shall have effect as if—

(a)all payments under those subsections fell to be defrayed out of money provided by Parliament, instead of out of the Aviation Security Fund ; and

(b)the consent of the Treasury were required for all such payments.

(3)The power to make an order under this section—

(a)shall be exercisable by statutory instrument; and

(b)shall include power to make such incidental, supplemental or transitional provision as the Secretary of State thinks fit;

and a statutory instrument containing an order under this section shall be subject to annulment in pursuance of a resolution of either House of Parliament.

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