{
  "url": "https://openlegislation.uk/poole-harbour-revision-order-2012/article-42",
  "json_url": "https://openlegislation.uk/poole-harbour-revision-order-2012/article-42.json",
  "legislation": "uksi/2012/1777",
  "legislation_title": "The Poole Harbour Revision Order 2012",
  "legislation_url": "https://openlegislation.uk/poole-harbour-revision-order-2012",
  "path": "article/42",
  "kind": "article",
  "number": "42",
  "heading": "Reserve fund",
  "text": "(1) The Commissioners may establish and maintain reserve funds.\n(2) The Commissioners may if they think fit carry to a reserve fund such part of their receipts on revenue account as shall be available for the purpose until in any year the fund amounts to a sum equivalent to the gross revenue of the Commissioners in the immediately preceding financial year and if the fund at any time falls below that amount the Commissioners may carry to the fund so much of any such receipts as is required to restore the fund to that amount and is available for the purpose.\n(3) Any reserve fund established or maintained under this article shall from time to time be applied by the Commissioners in their discretion—\n(a) in or towards meeting any deficiency on revenue account in any year; or\n(b) to meet any extraordinary claim or demand in respect of the undertaking; or\n(c) in or towards payment of the cost of renewing, improving, extending or replacing any part of the works forming part of the undertaking or any vessels, plant or equipment of the Commissioners; or\n(d) for improving the operational area and the navigation of the harbour and the approaches to the harbour; or\n(e) for any other lawful purpose sanctioned by the Commissioners.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Art. 42 in force at 23.7.2012, see art. 1(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2012/1777/article/42",
    "retrieved_at": "2026-10-29T01:26:15.018635+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}