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10.—(1) Any sum paid into a charging authority’s collection fund which is not immediately required for the purpose of making payments or transfers from that fund shall be—
(a)invested in a prescribed investment;
(b)held in cash; or
(c)transferred to the charging authority’s general fund.
(2) Any sum transferred under paragraph (1) from an authority’s collection fund to its general fund shall be—
(a)invested in a prescribed investment;
(b)held in cash; or
(c)used for the discharge of the authority’s functions.
(3) A prescribed investment is an investment prescribed in Schedule 2 to these Regulations.
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