(1)Section 27 of the 1990 Act (application of excess revenues of Channel Four Television Corporation) is amended as follows.
(2)In subsection (1)—
(a)in paragraph (a), for “one half” there is substituted “ 50 per cent. ”, and
(b)in paragraph (b), for “the other half” there is substituted “ the remainder of the excess ”.
(3)In subsection (3)—
(a)in paragraph (a), for “half” there is substituted “ 50 per cent. ”, and
(b)in paragraph (b), for “the other half” there is substituted “ the remainder of that amount ”.
(4)After subsection (6) there is inserted—
“(7)The Secretary of State may by order—
(a)amend subsection (1)(a) by substituting for the percentage for the time being specified there a percentage specified in the order, which may be nil but must not be more than 50 per cent., and
(b)amend subsection (3)(a) by substituting for the percentage for the time being specified there a percentage specified in the order, which may be nil.
(8)An order shall not be made under subsection (7) unless a draft of it has been laid before and approved by a resolution of each House of Parliament.”