Church of England Pensions Measure 2018

48 Section 47: other financial instruments

(1) The Board may by regulations amend section 47(4) so as to add other financial instruments to those for the time being mentioned there.

(2) But regulations under this section may not be made unless a draft of the instrument containing the regulations has been laid before the General Synod and approved by it with or without amendment.

(3) A draft approved under subsection (2) must be referred to the Board; and on the referral of a draft, the Board must—

(a) if the draft was approved without amendment, make the regulations by applying its seal;

(b) if the draft was approved with amendment, either make the regulations by applying its seal or withdraw the draft for further consideration.

(4) Regulations under this section may not come into force before they have been sealed by the Board.

(5) If the Business Committee of the Synod decides that a draft of regulations under this section does not need to be debated by the Synod, the draft is to be treated as approved by the Synod without amendment unless a member of the Synod gives notice in accordance with its Standing Orders that the member—

(a) wishes the draft regulations to be debated, or

(b) wishes to move an amendment to them.

(6) The power to make regulations under this section is exercisable by statutory instrument; and the Statutory Instruments Act 1946 applies—

(a) as if the regulations had been made by a Minister of the Crown, and

(b) as if this Measure were an Act of Parliament providing for the instrument containing the regulations to be subject to annulment in pursuance of a resolution of either House of Parliament.