773. Reserves.

773.     Reserves.

The Secretary of State1 may, with Treasury2 approval, give directions to the Civil Aviation Authority ('CAA') in regard to the establishment or management of reserves, or the application of any reserves for the purposes of the CAA3.

The Secretary of State may also, with Treasury approval and after consultation with the CAA, direct the CAA to pay to him the whole or part of the sums standing to the credit of any of its reserves4.