Section 3 Amendments as to smallholdings in England and Wales.F1

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In determining the contribution which, under section fifty-eight of the M1Agriculture Act, 1947, F3the Minister of Agriculture, Fisheries and Food may make for any year to a smallholdings authority in respect of a loss incurred by the authority in carrying out proposals formulated by them, the authority’s expenditure referred to in subsection (3) of that section, in so far as it consists of the payment of interest or sinking fund charges on borrowed moneys, shall be calculated by reference to such rate of interest as may be prescribed by regulations under subsection (7) of the section, instead of by reference to the rate allowed for in the estimates approved by the Minister in relation to the proposals.

There shall be paid out of moneys provided by Parliament any increase attributable to this section in the expenses of the Minister of Agriculture and Fisheries under Part IV of the Agriculture Act, 1947 . . . F4