Part 2The Board of the Pension Protection Fund

Chapter 1The Board

Financial matters

116Grants

The Secretary of State may pay the Board out of money provided by Parliament such sums as he may determine towards any of its expenses, other than expenditure which by virtue of section 173(3) or 188(3) is payable out of—

(a)

the Pension Protection Fund, or

(b)

the Fraud Compensation Fund.