17SAfter section 118 there shall be inserted the following section—
“118A Income plans under schemes.
(1)Any provision of a scheme referred to in subsection (2) below which (however expressed) empowers or requires the governing body of the endowment to which the scheme relates—
(a)to prepare and submit for the approval of the Secretary of State a plan, a revised plan or an amendment of a plan for the exercise by the governing body of their functions in relation to the application of the income of the endowment; or
(b)to give effect to such a plan or amendment as approved by the Secretary of State,
shall be of no effect.
(2)This section applies to any scheme made or approved under the Acts of 1928 to 1935, Part VI of the Act of 1946, Part VI of the Act of 1962, or this Part of this Act.”.