Section 3 Sums transferred by Commission for payment for the levy purposes to be held on trust for Commission.F1

This section applies where in accordance with any arrangements made by the Commission by virtue of section 1(6) of this Act any sums collected by the Commission in pursuance of a pig industry levy scheme have been paid to the person for the time being responsible in accordance with those arrangements for making payments for the levy purposes.

In this section “available levy receipts” means any sums so paid which have not been applied in making payments for the levy purposes or in meeting expenses of the person so responsible that may be met from the levy fund and any investments or other property for the time being representing any such sums.

Without prejudice to their application in accordance with the arrangements in making payments for the levy purposes, any available levy receipts for the time being held by the person so responsible (less any expenses of that person that may be met from the levy fund) shall be treated as held by that person on trust for the Commission.