23(1)If at any time it appears to the Minister that the duties of the Board under section 25(3)(a) and (c) have been substantially discharged, he may by order made with the approval of the Treasury prescribe a day (in this and the following paragraph referred to as “the prescribed day”) and make such provision as appears to him necessary or expedient for winding up the affairs of the Board.U.K.
(2)Such an order shall make provision—
(a)for the transfer, by virtue of the order, of any property, rights, liabilities or obligations which the Board may have immediately before the prescribed day to a Minister of the Crown or his nominees or agents or F1. . ., and for the disposal thereof; and
(b)for the payment into the Consolidated Fund of sums transferred by or accruing under the order to any Minister of the Crown, and the payment out of money provided by Parliament of any sums to be provided for the purposes of the order.
(3)No order shall be made under this paragraph unless a draft of the order has been laid before Parliament and approved by a resolution of each House of Parliament.
(4)In this paragraph “Minister of the Crown” means the holder of an office in Her Majesty’s Government in the United Kingdom, and includes the Treasury.
Textual Amendments
F1Words in Sch. 5 para. 23(2)(a) repealed (21.3.1997) by 1995 c. 24, s. 13(2), Sch. 2 Pt. I (with saving in s. 11(8)); S.I. 1997/1139, art. 2