Consolidated Fund Act

A Consolidated Fund Act is an Act of the Parliament of the United Kingdom passed to allow, like an Appropriation Act, the Treasury to issue funds out of the Consolidated Fund.

The typical structure of such an Act begins with the long title, which defines which financial years the Act applies to. This is followed by the preamble, which is different from the normal British public general Act of Parliament preamble in that it includes additional text before the normal preamble:

"Whereas the Commons of the United Kingdom in Parliament assembled have resolved to authorise the use of resources and the issue of sums out of the Consolidated Fund towards making good the supply which they have granted to Her Majesty in this Session of Parliament:—

Be it therefore 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:—"

Until 2000 an older form of preamble was used:

"Most Gracious Sovereign, WE, Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards making good the supply which we have cheerfully granted to Your Majesty in this Session of Parliament, have resolved to grant unto Your Majesty the sums hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted and 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:—"

If, as most of the Acts do, the legislation covers two fiscal years the legislation's first two sections will contain the amounts to be paid out of the Consolidated Fund for each particular financial year. The third section of the Act defines its short title. Typically two or three consolidated fund Acts are passed each calendar year.

A Consolidated Fund Act normally becomes spent on the conclusion of the financial year to which it relates.

Other articles related to "fund, funds, act":

Fund Of Funds - Asset Allocation - Target-date Fund
... A target-date fund is similar to an asset-allocation fund, except that the allocation is designed to change over time ... iShares ETFs Vanguard has target-date mutual funds that own other Vanguard mutual funds ... In both cases, the same funds are used as the asset-allocation funds ...
List Of Acts Of The Parliament Of The United Kingdom, 1980–1999 - 1990 – 1999 - 1993 - Public Acts
... Agriculture Act 1993 c. 37 Appropriation Act 1993 c. 33 Asylum and Immigration Appeals Act 1993 c ...
List Of Acts Of The Parliament Of The United Kingdom, 1900–1919 - 1910 – 1919 - 1917 (7 & 8 Geo. 5)
... Air Force (Constitution) Act 1917 c. 51 Appropriation Act 1917 c. 52 Army (Annual) Act (1916) Amendment Act 1917 c ...

Famous quotes containing the words act, consolidated and/or fund:

    We must not suppose that, because a man is a rational animal, he will, therefore, always act rationally; or, because he has such or such a predominant passion, that he will act invariably and consequentially in pursuit of it. No, we are complicated machines; and though we have one main spring that gives motion to the whole, we have an infinity of little wheels, which, in their turns, retard, precipitate, and sometime stop that motion.
    Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)

    Prestige is the shadow of money and power. Where these are, there it is. Like the national market for soap or automobiles and the enlarged arena of federal power, the national cash-in area for prestige has grown, slowly being consolidated into a truly national system.
    C. Wright Mills (1916–1962)

    I am advised that there is an unexpended balance of about $45,000 of the fund appropriated for the relief of the sufferers by flood upon the Mississippi River and its tributaries, and I recommend that authority be given to use this fund to meet the most urgent necessities of the poorer people in Oklahoma.
    Benjamin Harrison (1833–1901)