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(1)Each police authority established under section 3 shall keep a fund to be known as the police fund.
(2)Subject to any regulations under the [1976 c. 35.] Police Pensions Act 1976, all receipts of the police authority shall be paid into the police fund and all expenditure of the authority shall be paid out of that fund.
(3)Accounts shall be kept by each police authority of payments made into or out of the police fund.
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