OpenLegislation

Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Scheme)

This Scheme provides for the merger of one of the three common investment funds under section 42 of the Administration of Justice Act 1982 (the Gross Income Fund) into one of the remaining funds (the High Yield Fund) and makes consequential amendments to the Common Investment Scheme 1991.

This Scheme also makes amendments to the Common Investment Scheme 1991 to enable units in the common investment funds to be allotted to the Accountant General for Northern Ireland and to such other person as the Lord Chancellor may authorise under section 42(5)(b) of the Administration of Justice Act 1982.