Employment Guarantee Fund Act, 1980

Winding up of Fund.

7.—(1) Aggregate payments out of the Fund for the purpose specified in section 3 of this Act shall not exceed £20,000,000.

(2) The Fund shall be wound up when the aggregate expenditure from the Fund (inclusive of payments out of the Employment Guarantee Fund grant-in-aid account) reaches £20,000,000, and any balance remaining in or to the credit of the Fund shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister may direct.