The Portsmouth International Port and Camber Harbour Revision Order 2025
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Change 1
8 Reserve fund
(1) The Council may have and maintain a reserve fund. (2) The Council may carry to any such reserve fund such part of the port revenue that is— (a) available in accordance with article 7(d); and (b) required for the purposes of the port undertaking. (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 port revenue for the purposes of article 7(a) to (c) in any year; (b) to meet any extraordinary claim or demand in respect of the port undertaking; (c) in or towards payment of the cost of renewing, improving, extending or replacing any part of the works forming part of the port undertaking or any vessels, plant or equipment of the Council connected to the port undertaking; (d) for improving the operational area and the navigation of the port and the approaches to the port; (e) for any other lawful purpose sanctioned by the Council and connected with the port undertaking.
8 Reserve fund
(1) The Council may have and maintain a reserve fund. (2) The Council may carry to any such reserve fund such part of the port revenue that is— (a) available in accordance with article 7(d); and (b) required for the purposes of the port undertaking. (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 port revenue for the purposes of article 7(a) to (c) in any year; (b) to meet any extraordinary claim or demand in respect of the port undertaking; (c) in or towards payment of the cost of renewing, improving, extending or replacing any part of the works forming part of the port undertaking or any vessels, plant or equipment of the Council connected to the port undertaking; (d) for improving the operational area and the navigation of the port and the approaches to the port; (e) for any other lawful purpose sanctioned by the Council and connected with the port undertaking.
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