House of Commons Members' Fund Act 1960
| Jurisdiction | UK Non-devolved |
| Citation | 1960 c. 50 |
| Year | 1960 |
House of Commons Members' Fund Act, 1960
(8 & 9 Eliz. 2) CHAPTER 50
An Act to extend the powers of investment of the trustees of the House of Commons Members' 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 Extension of powers of investment.
(1) Assets of the House of Commons Members' Fund which are for the time being available for investment may be invested by the trustees—
(a ) in any investments in which the trustees were authorised immediately before the commencement of this Act to invest such assets;
(b ) subject to the provisions of this section, in any other investments whatsoever,
and the trustees may from time to time realise, convert or otherwise deal with any such investments in all respects as if they were beneficially entitled thereto.
(2) The total value of the investments for the time being comprised in the Fund, not being investments authorised by paragraph (a ) of the foregoing subsection, shall not exceed one half of the value of the Fund; and for the purposes of this subsection the value of any investment comprised in the Fund shall be taken to be its value at cost.
2 Short title and citation.
2. This Act may be cited as theHouse of Commons Members' Fund Act, 1960, and this Act and the House of Commons Members' Fund Acts, 1939 to 1957, may be cited together as the House of Commons Members' Fund Acts, 1939 to 1960.
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