Section 123 Orders under s.122 (supplementary)

No order shall be made under section 122 above unless a draft of the order has been laid before, and approved by, a resolution of each House of Parliament.

Where the Secretary of State lays before Parliament a draft of an order under that section, he shall lay with it a copy of a report by the Government Actuary on the effect which, in the Actuary's opinion, the making of such an order may be expected to have on the National Insurance Fund:

Provided that no such report need be laid if the order is made by virtue only of section 122(4) or (5).

An order under section 122 shall be made so as to be in force from the beginning of the tax year following that in which it received Parliamentary approval, and to have effect for that year and any subsequent tax year (subject to the effect of any subsequent order under that section or under section 120 above); and for this purpose the order is to be taken as receiving Parliamentary approval on the date on which the draft of it is approved by the second House to approve it.