Fisheries Act 1981
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Change 1
7 Government loans.
(1) The Ministers may lend to the Authority, on such terms as the Treasury may approve, any sums required to be borrowed by the Authority for a purpose approved by the Ministers and the Treasury. (2) Subject to subsection (3) below, the amount outstanding at any time of the sums lent under this section shall not exceed £30 million. (3) The Ministers may by an order made with the approval of the Treasury increase or further increase the maximum amount specified in subsection (2) above but not by more than £10 million at a time. (4) An order under subsection (3) above shall not have effect unless approved by a resolution of the House of Commons. (5) This section shall not be construed as authorising borrowing by the Authority in excess of the limit imposed by section 6 above.
7 Government loans.
(1) The Ministers may lend to the Authority, on such terms as the Treasury may approve, any sums required to be borrowed by the Authority for a purpose approved by the Ministers and the Treasury. (2) Subject to subsection (3) below, the amount outstanding at any time of the sums lent under this section shall not exceed £30 million. (3) The Ministers may by an order made with the approval of the Treasury increase or further increase the maximum amount specified in subsection (2) above but not by more than £10 million at a time. (4) An order under subsection (3) above shall not have effect unless approved by a resolution of the House of Commons. (5) This section shall not be construed as authorising borrowing by the Authority in excess of the limit imposed by section 6 above.
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