The Cornwall Harbours Harbour Revision Order 2023
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Change 1
17 General reserve fund
(1) The Council must establish and maintain a general reserve fund. (2) The Council must carry to the general reserve fund such part of the harbours revenue as may be available for the purpose in accordance with article 14(d). (3) Any reserve fund established or maintained under this article must be applied by the Council in its discretion— (a) in or towards meeting any deficiency in the harbours revenue account in any year; (b) to meet any extraordinary claim or demand in respect of the undertaking; (c) in or towards payment of the cost of renewing, improving, extending or replacing any part of the works forming part of the undertaking or any vessels, plant or equipment of the Council connected to the undertaking; (d) for improving the operational area and the navigation of the harbours and the approaches to the harbours; (e) for any other lawful purpose sanctioned by the Council and connected with the undertaking.
17 General reserve fund
(1) The Council must establish and maintain a general reserve fund. (2) The Council must carry to the general reserve fund such part of the harbours revenue as may be available for the purpose in accordance with article 14(d). (3) Any reserve fund established or maintained under this article must be applied by the Council in its discretion— (a) in or towards meeting any deficiency in the harbours revenue account in any year; (b) to meet any extraordinary claim or demand in respect of the undertaking; (c) in or towards payment of the cost of renewing, improving, extending or replacing any part of the works forming part of the undertaking or any vessels, plant or equipment of the Council connected to the undertaking; (d) for improving the operational area and the navigation of the harbours and the approaches to the harbours; (e) for any other lawful purpose sanctioned by the Council and connected with the undertaking.
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