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Article 7 Further restrictions on use of the Trust Fund

Original text. Later amendments are not shown.

(1)

In each of the financial years ending 31st March 1990, 31st March 1991 and 31st March 1992 the City may apply the money in the Trust Fund for defraying no more than 4/9ths of its expenditure in that year on the management and maintenance of the Heath lands.

(2)

In each financial year commencing with the financial year beginning 1st April 1992, the City may defray part of its expenditure on the management and maintenance of the Heath lands by applying such amount of the money in the Trust Fund as does not exceed the maximum contribution for that year.

(3)

For the purposes of paragraph (2), the maximum contribution is the amount determined in accordance with Schedule 2.