Sanjiva, what you propose is what first occurred to me. And the CSist in me still wants to do this.
However, I was worried that a non-tech person might not be able to find a specific version by going through Git commit history. So I thought of a compromise where you start with 1978. Clone it and add amendment 1 as a diff. And so on. I thought having a separate file for each version might work better with non-techies.
A third approach might be to do what you propose, and just have the version files somewhere else for the non-technies.
Either way, given this early stage there’s time to try one or all of these.