Contingencies Fund Act 2020
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Change 1
1 Temporary increase of capital limit of Contingencies Fund
(1) Section 1(1) of the Contingencies Fund Act 1974 (which provides that the capital of the Contingencies Fund must not exceed 2 per cent of the authorised supply expenditure for the year ending on the previous 31 March) is modified as follows. (2) The reference to 2 per cent is to be read as if it were a reference to 50 per cent. (3) The modification made by subsection (2) has effect in relation to any time before 1 April 2021.
1 Temporary increase of capital limit of Contingencies Fund
(1) Section 1(1) of the Contingencies Fund Act 1974 (which provides that the capital of the Contingencies Fund must not exceed 2 per cent of the authorised supply expenditure for the year ending on the previous 31 March) is modified as follows. (2) The reference to 2 per cent is to be read as if it were a reference to 50 per cent. (3) The modification made by subsection (2) has effect in relation to any time before 1 April 2021.
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