Miscellaneous Financial Provisions Act 1955

1The Civil Contingencies Fund

(1)Section three of the Miscellaneous Financial Provisions Act, 1946 (which authorises an increase in the Civil Contingencies Fund), shall be amended as follows.

(2)So much of paragraph (a) of the proviso to subsection (1) of the said section three as directs that any sums issued under that section to the said Fund shall be repaid by a specified date (which date is, under the Civil Contingencies Fund Act, 1952, as extended by the Expiring Laws Continuance Act, 1954, the thirty-first day of December, nineteen hundred and fifty-five) shall cease to have effect.

(3)The capital of the said Fund (including the permanent capital of one million five hundred thousand pounds) shall not exceed seventy-five million pounds or such lower amount as the Treasury may by order direct and accordingly paragraph (b) of the said proviso (which, as amended by section one of the Miscellaneous Financial Provisions Act, 1950, provides that the capital of the said Fund shall not be increased under the said section three by more than one hundred and twenty-five million pounds) shall have effect as if for the reference to that sum there were substituted a reference to a sum which, when added to the said permanent capital of one million, five hundred thousand pounds, equals the limit for the time being imposed by this subsection.

An order of the Treasury under this subsection may be varied by a subsequent order and any such order shall be contained in a statutory instrument which shall be subject to annulment in pursuance of a resolution of the Commons House of Parliament.

(4)The enactments specified in Part I of the Second Schedule to this Act are hereby repealed to the extent specified in the third column of that Schedule.