Section 44(5)

In the case of the Agency— subsection (1) above is subject to section 118 of the 1991 Act (special duties with respect to flood defence revenue); subsection (3) above is subject to sections 118(1)(a) and 119(1) of the 1991 Act (special duties with respect to flood defence revenue and funds raised for fishery purposes under local enactments); and subsection (4) above is subject to sections 118(1)(b) and 119(2) of the 1991 Act (which provide for flood defence revenue and certain funds raised under local enactments to be disregarded in determining whether there is a surplus).

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Source: legislation.gov.uk · retrieved 2026-07-30