(1)Where an enactment or subordinate instrument passed or made before the appointed day contains a reference to an amount of money in the old currency which is not a whole number of pounds, the Treasury, or any Minister of the Crown with the consent of the Treasury, may by order—
(a)if the equivalent of that amount in the new currency is not a new penny or a multiple thereof, substitute for that reference a reference to such amount in the new currency as in the opinion of the authority making the order is the appropriate multiple of a new halfpenny (or if the case so requires a reference to a new halfpenny);
(b)make such other amendment in that enactment or instrument as in the opinion of that authority is appropriate for securing either that any amount payable thereunder will be a new halfpenny or a multiple thereof or that any amount payable thereunder will be a new penny or a multiple thereof ;
(c)if that reference is part of a rate, percentage, proportion, formula or other basis of calculation, make such amendment in the enactment or instrument as in the opinion of that authority is appropriate for securing that the basis of calculation is expressed in the new currency and in convenient terms.
(2)An order under this section—
(a)may include such consequential, supplementary or transitional provisions as the authority making the order thinks fit; and
(b)may be revoked or varied by a subsequent order.
(3)An order under this section shall not come into operation before the appointed day.
(4)No order altering the rate of any tax shall be made under this section.
(5)Any order under this section shall be made by statutory instrument, which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
(6)The amendment of any provision by an order under this section shall not prejudice any power to amend or vary that provision conferred by any other enactment.
(7)In this section " Minister of the Crown " includes the Board of Trade.
(8)In the application of this section to Northern Ireland—
(a)for any reference to the Treasury or to any Minister of the Crown there shall, in relation to any enactment which the Parliament of Northern Ireland has power to amend or any subordinate instrument made under such an enactment, be substituted respectively a reference to the Ministry of Finance for Northern Ireland or to any other Ministry of Northern Ireland; and
(b)in relation to an order made by the Ministry of Finance for Northern Ireland or any other Ministry of Northern Ireland with its consent, for subsection (5) there shall be substituted—
“(5)Any order under this section shall be subject to negative resolution within the meaning of section 41(6) of the [1954 c. 33 (N.I.).] Interpretation Act (Northern Ireland) 1954.”