Effect of The Act
The Act passed into UK law the decisions on the European Union budget taken at the Council of Ministers meeting of 29 September 2000. It did this by amending the introductory paragraph of the European Communities Act 1972 to include reference to the 29 September 2000 decision. The Act superseded and repealed the European Communities (Finance) Act 1995, but was in turn repealed by the European Communities (Finance) Act 2008.
Read more about this topic: European Communities (Finance) Act 2001
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