This Act may be cited as the Invercargill City Fire and Accident Insurance Fund Empowering Amendment Act 1952, and shall be read together with and deemed part of the Invercargill City Fire and Accident Insurance Fund Empowering Act 1930 (hereinafter referred to as the principal Act).

The Invercargill City Council may from time to time pay out of the interest earned by the investment of the said Fund pursuant to section four of the principal Act any insurance premium or premiums payable to the State Fire and Accident Insurance Office or to any insurance company or companies in respect of any risk or risks for the time being lawfully insured therewith by the Council:

Provided that the total amount of premiums so paid by the Council shall not in any financial year exceed the aggregate of the interest earned during that year by such investments.