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Contingencies Fund Act 1974

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Contingencies Fund Act 1974

1974 CHAPTER 18

An Act to make new provision with respect to the maximum capital of the Contingencies Fund.

[23rd May 1974]

Be it enactedby the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

1Maximum capital of Contingencies Fund.

(1)The capital of the Contingencies Fund, including the permanent capital of £1 ½ million, shall not at any time exceed an amount equal to 2 per cent. of the authorised supply expenditure for the year ending on the previous 31st March; and accordingly the sums issued out of the Consolidated Fund under section 3(1) of the Miscellaneous Financial Provisions Act 1946 (temporary increase of Contingencies Fund) and remaining unrepaid to the Consolidated Fund at any time shall not exceed a sum which, when added to the said permanent capital, equals the limit then imposed by this section.

(2)In this section " authorised supply expenditure " means, in relation to any year ending on 31st March, the total of the sums which Acts passed before the end of that year have authorised the Treasury to issue out of the Consolidated Fund and apply towards making good the supply granted to Her Majesty for the service of that year.

2Short title and repeals.

(1)This Act may be cited as the Contingencies Fund Act 1974.

(2)The enactments mentioned in the Schedule to this Act are hereby repealed to the extent specified in the third column of that Schedule.

ScheduleRepeals

ChapterShort TitleExtent of Repeal
9 & 10 Geo. 6. c. 40.The Miscellaneous Financial Provisions Act 1946.In section 3(1), paragraph (b) of the proviso together with the word " and" immediately preceding that paragraph.
14 Geo. 6. c. 21.The Miscellaneous Financial Provisions Act 1950.Section 1 so far as unrepealed.
4 & 5 Eliz. 2. c. 6.The Miscellaneous Financial Provisions Act 1955.Section 1(3).
1968 c. 75.The. Miscellaneous Financial Provisions Act 1968.Section 1.
1970 c. 56.The Contingencies Fund Act 1970.Section 2.

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