# Air Travel Reserve Fund Act 1975 (repealed 8.11.1995), Section 1: The Air Travel Reserve Fund Agency.

Extent: E+W+S+N.I.

(1) There shall be a body corporate, to be called the Air Travel Reserve Fund Agency (hereafter in this Act referred to as “the Agency”).
(2) The functions of the Agency shall be to hold, manage and apply, in accordance with the provisions of this Act and any rules made by the Civil Aviation Authority (hereafter in this Act referred to as “the Authority”) under section 3 below, any sums paid or lent to the Agency under or by virtue of this Act; and the assets for the time being representing any sums so paid or lent to the Agency shall constitute a fund to be known as the Air Travel Reserve Fund (hereafter in this Act referred to as “the Fund”).
(3) The Agency shall consist of such number of persons appointed by the Secretary of State, after consultation with the Authority, to be members thereof as may appear to the Secretary of State to be appropriate; and the Secretary of State shall appoint one member to be the chairman of the Agency.
(4) The persons appointed as members of the Agency shall include—
(a) persons who are members or officers of the Authority; and
(b) persons appearing to the Secretary of State to be representative of the interests of persons engaged in the United Kingdom in the provision of travel facilities to members of the public;
and the Secretary of State shall also ensure, through the exercise of his power of appointment in relation to the membership of the Agency, that the interests of members of the public using travel facilities provided by persons so engaged are specially represented on the Agency.
(5) The person appointed chairman of the Agency shall be a person who is neither—
(a) a member of the Authority or an officer of the Authority or of the Department of Transport, nor
(b) in any way associated by way of business with persons engaged in the provision of travel facilities as mentioned in subsection (4)(b) above.
(6) The provisions of the Schedule to this Act shall have effect with respect to the Agency.

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Source: https://www.legislation.gov.uk/ukpga/1975/36/section/1 (the official version)
Page: https://openlegislation.uk/air-travel-reserve-fund-act-1975-repealed-8111995/section-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.