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Industrial and Provident Societies Act 1978
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- UK Public General Acts
- 1978 c. 34
- Section 2
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2Further alterations of limits.
(1)The chief registrar may from time to time, with the consent of the Treasury, by order substitute for the sums for the time being specified in section 7(3) of the Act of 1965 as the limits applicable thereunder such other sums, not being less than £10 (denoting the limit of deposits which can be taken at any one time) and £250 (denoting the maximum amount which can be taken from any one depositor), as may be specified in the order.
(2)An order under this section may make any such provision in connection with altering the limits for the time being applicable under the said section 7(3) as is made by section 1 above, and may contain such other transitional, consequential, incidental or supplementary provisions as appear to the chief registrar to be necessary or appropriate in that connection.
(3)An order made under this section may vary or revoke any previous order so made.
(4)The power to make an order under this section shall be exercisable by statutory instrument, which shall be subject to annulment in pursuance of a resolution of either House of Parliament; and the [1946 c. 36.] Statutory Instruments Act 1946 shall apply thereto as if the chief registrar were a Minister of the Crown.
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