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Harbours Act (Northern Ireland) 1970
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Harbours Act (Northern Ireland) 1970, Section 24 is up to date with all changes known to be in force on or before 23 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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24Power of harbour authorities to acquire a harbour business or shares in a harbour business.N.I.
(1)Subject to subsection (3), a harbour authority may acquire by agreement any business or undertaking which consists wholly or mainly of the carrying out of harbour operations or of the provision, maintenance or operation of any such depot as is mentioned in section 23 or so much of any business or undertaking as consists of the carrying out of such operations or of the provision, maintenance or operation of any such depot.
(2)Subject to subsection (3), a harbour authority may subscribe for or acquire any securities of a body corporate which is wholly or mainly engaged or which it is proposed should become wholly or mainly engaged in carrying out harbour operations or in providing, maintaining or operating any such depot.
(3)A harbour authority shall not by virtue of this section acquire a business or undertaking which consists of or includes the provision, maintenance or operation of any such depot, or subscribe for or acquire any securities of a body corporate which is engaged or which it is proposed should become engaged in providing, maintaining or operating any such depot, without the consent of the Ministry.
(4)In this section “securities” , in relation to a body corporate, means any shares, stock, debentures, debenture stock, and any other security of a like nature, of the body corporate.
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