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(1)The funds which the Authority is required at the coming into force of this section under subsection (1) of section 88 of the [1963 c. 38.] Water Resources Act 1963 (funds held for particular purposes under local statutory provisions) to use only for particular purposes and any interest in any such funds shall not be used except for the purposes for which they could be used by virtue of that subsection.
(2)Any funds to which subsection (1) above applies shall be disregarded in determining the amount of any surplus under section 117(3) above.
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