(1)The fund known as the social fund shall continue in being by that name.
(2)The social fund shall continue to be maintained under the control and management of the Secretary of State and payments out of it shall be made by him.
(3)The Secretary of State shall make payments into the social fund of such amounts, at such times and in such manner as he may with the approval of the Treasury determine.
(4)Accounts of the social fund shall be prepared in such form, and in such manner and at such times, as the Treasury may direct, and the Comptroller and Auditor General shall examine and certify every such account and shall lay copies of it, together with his report, before Parliament.
(5)The Secretary of State shall prepare an annual report on the social fund.
(6)A copy of every such report shall be laid before each House of Parliament.