PART 4General financial provisions
Powers of the Board
I148Section 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.