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Social Security Act 1993

Consolidated Text As Enacted Cited authorities 7 Cited in Amendments 37 Related
Vincent
JurisdictionUK Non-devolved
Citation1993 c. 3
Year1993
(1) During the tax year 1993-94 there shall be paid into the National Insurance Fund out of money provided by Parliament such amounts as the Secretary of State may from time to time determine, not exceeding in aggregate 20 per cent. of estimated benefit expenditure for the financial year ending with 31st March 1994.(2) If, before the beginning of the tax year 1994-95 or any subsequent tax year, F2the Treasury by order provide that this subsection is to have effect with respect to that tax year, there shall during that tax year be paid into the National Insurance Fund out of money provided by Parliament such amounts as the F3Treasury may from time to time determine, not exceeding in aggregate the prescribed percentage of estimated benefit expenditure for the financial year ending with 31st March in that tax year.(3) In subsection (2) above “the prescribed percentage” means such percentage, not exceeding 17 per cent., as may be specified in the order under that subsection.under paragraphs F12(za) ,F13(zb) , (a) , (b) , (c) and (d) of section 163(1) of the Social Security Administration Act 1992, andunder F4sections 167(1) and 182 of the Employment Rights Act 1996F5andunder section 124(1) of the Pension Schemes Act 1993(5) F6Treasury may exercise F7their power to make a determination under subsection (1) above or an order or determination under subsection (2) above only if F7they think it expedient to do so with a view to adjusting the level at which the National Insurance Fund stands for the time being and having regard to estimated benefit expenditure for the financial year ending with 31st March in the tax year to which the determination or order is to relate.(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(8) An order under subsection (2) above shall be made by statutory instrument; and a statutory instrument containing such an order shall not be made unless a draft of the instrument has been laid before Parliament and approved by a resolution of each House of Parliament.(9) In section 1 of the

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