House of Commons Members' Fund Act 1957
| Jurisdiction | UK Non-devolved |
| Citation | 1957 c. 24 |
| Year | 1957 |
House of Commons Members' Fund Act, 1957
(5 & 6 Eliz. 2) CHAPTER 24
An Act to authorise the payment out of moneys provided by Parliament of annual contributions towards the House of Commons Members' Fund and to extend the powers of investment of the trustees of that Fund.
Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
1 Power of Treasury to contribute to Fund.
(1) There may be paid out of moneys provided by Parliament into the House of Commons Members' Fund such annual contributions as the Treasury may from time to time determine having regard to the amount for the time being of the payments to be made out of the fund and of the income of the fund from other sources.
(2) The amount of the annual contributions payable under this section shall not exceed ten thousand pounds or such higher amount as the Treasury may by order direct.
(3) The power of the Treasury to make an order under subsection (2) of this section shall include power to revoke or vary such an order by a subsequent order and shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of the House of Commons.
(4) Subsection (4) of section four of the House of Commons Members' Fund Act, 1948 (which enables the House of Commons to appropriate for the relief of special hardship under that section up to one tenth of the sums deducted or set aside from the salaries of members of that House under the House of Commons Members' Fund Act, 1939) shall apply in relation to any contributions under this section as it applies in relation to sums so deducted or set aside.
2 Extension of trustees' powers of investment.
2. The powers of the trustees under the Third Schedule to the House of Commons Members' Fund Act, 1939 (which relates to the investment of the fund) shall include power to deposit money at interest with any local authority authorised to accept money so deposited under section three of the Local Authorities...
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