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Article 4 Assets, liabilities, reserves and public dividend capital

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

The Crown assets and liabilities set out in Schedule 2 shall be appropriated as assets and liabilities of the fund.

(2)

The sum of £39,000, being part of the amount by which the values of those assets exceeds the amount of those liabilities, shall be treated as a revaluation reserve in the accounts of the fund, and the reserve so created shall be maintained as a revaluation reserve.

(3)

The sum of £3,204,000, being part of the amount by which the value of those assets exceeds the amount of those liabilities shall be treated as public dividend capital.