In section 31 of the Industrial and Provident Societies Act 1965 (investments), in paragraph (a), for sub-paragraph (i) there shall be substituted the following sub-paragraphs—

“(i)

a billing authority or a precepting authority, as defined in section 69 of the Local Government Finance Act 1992;

(ia)

a combined police authority or a combined fire authority, as defined in section 144 of the Local Government Finance Act 1988;”.