SCHEDULES

SCHEDULE 8 The Radio Authority: Supplementary Provisions

Finances of Authority

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1

It shall be the duty of the Authority so to conduct their affairs that their revenues become at the earliest possible date, and continue thereafter, at least sufficient to enable them to meet their obligations and discharge their functions under this Act.

2

Any excess of the Authority’s revenues for any financial year over the sums required by them for that year for meeting their obligations and discharging their functions under this Act shall be applied by the Authority in such manner as the Secretary of State may direct with the approval of the Treasury and after consultation with the Authority.

3

A direction under sub-paragraph (2) may require the whole or any part of any excess of the revenues of the Authority to be paid into the Consolidated Fund.