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Harbours (Loans) Money

Volume 828: debated on Tuesday 21 December 1971

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Queen's Recommendation having been signified

Resolved,

That, for the purposes of any Act of the present Session to make further provision for loans to harbour authorities—
  • (1) it is expedient to authorise—
  • (a) the issue to the Secretary of State out of the National Loans Fund of sums necessary for making loans under that Act to harbour authorities for the purpose of enabling them to pay capital debts, repay temporary loans and pay off overdrafts;
  • (b) the issue out of the National Loans Fund to the Secretary of State of an amount equal to the principal of loans made by him to harbour authorities for that purpose before the passing of that Act;
  • but so that the aggregate amount of loans made after the passing of that Act under section 11 of the Harbours Act 1964 and under the said Act of the present Session and of amounts issued to the Secretary of State as mentioned in sub-paragraph (b) above shall not exceed £200 million or, if so provided by a resolution of the Commons House of Parliament, £300 million;
  • (2) it is expedient to authorise the payment into the National Loans Fund of sums received by the Secretary of State by way of repayment of the principal of, or payment of interest on, loans made by him under the said Act of the present Session or any such loans as are mentioned in paragraph (1)(b) above.—[Mr. Eldon Griffiths.]