Paragraph 3

The Schedule shall be varied in accordance with the following provisions of this paragraph.

In paragraph 6, sub-paragraph (b) shall be omitted.

In paragraph 7(c), in subsection (5)(a)—

After paragraph 18 there shall be inserted the following paragraph:—

“18A

In section 17(5A), for “United Kingdom” there shall be substituted “Isle of Man”.”.

In paragraph 20, for “of £2,100,000” there shall be substituted “amount which is the equivalent in sterling (on the day, or first day, of that occurrence) of 5 million special drawing rights”.

After paragraph 20 there shall be inserted the following paragraph:—

“20A

In section 21(1A), for “Secretary of State may with the approval of the Treasury” there shall be substituted “Department may with the approval of the Secretary of State”.”.

In paragraph 23, after “21(4)” there shall be inserted “and (4A)”.

For paragraph 24, there shall be substituted the following paragraph:—

“24

In section 21(5), after “requirements of” there shall be inserted “any enactment ofTynwald corresponding to” and “7, 8, 9 or” shall be omitted.”.

In paragraphs 26, 28, 31, 32, 36 and 43, for “Board” in each place where it occurs there shall be substituted “Department”.

In paragraph 29, for the subsection there set out there shall be substituted the following subsection—

“(6)

In this section, in sections 21, 23 and 24 of this Act and in the Schedule hereto, “the Department” means the Department of Local Government and the Environment (a Board of Tynwald) and in this section “prescribed” means prescribed by regulations of the Department.”.

After paragraph 38 there shall be inserted the following paragraphs:—

“38A

Section 25A shall be omitted.

38B

In section 25B—

(a)

in subsection (3), for “Consolidated Fund” there shall be substituted “General Revenue of the Isle of Man”; and

(b)

at the end there shall be added the following subsection:—

“(4)

In this section, “Treasury” means the Board of Tynwald established by the Treasury Act 1985 (an Act of Tynwald).”.”.