(1)Section 1(1) of the Contingencies Fund Act 1974 (which provides that the capital of the Contingencies Fund must not exceed 2 per cent of the authorised supply expenditure for the year ending on the previous 31 March) is modified as follows.
(2)The reference to 2 per cent is to be read as if it were a reference to 50 per cent.
(3)The modification made by subsection (2) has effect in relation to any time before 1 April 2021.