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Film Levy Finance Act 1981

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This is the original version (as it was originally enacted).

Dissolution of Agency

8(1)If at any time it appears to the Secretary of State that no functions remain to be discharged by the Agency, the Secretary of State may by order provide—

(a)for the dissolution of the Agency;

(b)for the winding up of their affairs ; and

(c)for the application, for purposes connected with the British film industry, of any amount by which the assets of the Agency exceed their liabilities.

(2)Regulations under section 6 (payments by Agency to makers of British films) may include provision for requiring the Agency to set aside, out of the proceeds of the levy imposed in accordance with regulations made under section 2 in respect of the last period in respect of which it is imposed, such sum as appears to the Secretary of State sufficient to defray the expenses of the winding up.

(3)An order under sub-paragraph (1) may be varied by a subsequent order made by the Secretary of State.

(4)Any order under this paragraph shall be made by statutory instrument; but no such order shall be made unless a draft of the order has been laid before Parliament and approved by a resolution of each House of Parliament.

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