SCHEDULEMODIFICATIONS TO CERTAIN PROVISIONS OF PART IV OF THE 1989 ACT

5

Schedule 3 shall have effect as if:—

a

paragraphs 1 to 9 were omitted;

b

in paragraph 10(1), for the words “1st April 1990” there were substituted the words “1st February 1995”;

c

after paragraph 10(1) the following sub-paragraph were inserted—

1A

Subject to the provisions of paragraphs 11, 12, 13 and 14 below, the Residuary Body’s credit ceiling on 1st February 1995 shall be nil.

d

in paragraphs 11, 12, 13 and 14, for the words “1st April 1990” wherever they appear, there were substituted the words “1st February 1995”; and

e

in paragraph 15—

i

in sub-paragraph (1), after the word “sub-paragraphs”, there were inserted the word “(1A),”, and after the word “principal” there were inserted the words “(“principal amount”)”; and

ii

after sub-paragraph (1) the following sub-paragraph were inserted—

1A

For the financial years beginning on 1st April 1994 and 1st April 1995 the Residuary Body’s principal amount shall be nil.