Search Legislation

The River Bann Navigation Order (Northern Ireland) 2002

What Version

 Help about what version
  • Latest available (Revised)
  • Original (As made)

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Borrowing

7.—(1) The Commissioners may borrow money upon the security of all or any of the revenues and property of the Commissioners and by any method or methods they see fit.

(2) The total amount of monies borrowed under this Article and outstanding at any one time shall not exceed £250,000 or such greater amount as may be approved by the Department in writing.

(3) In calculating for the purposes of paragraph (2) the amount of money borrowed by the Commissioners and outstanding at any one time there shall be excluded any monies borrowed for use within 3 months of the date of borrowing for repayment of any sum for the time being outstanding by way of principal on any amount previously borrowed.

(4) Monies borrowed by the Commissioners under this Article shall be applied only to purposes to which capital money is properly applicable.

(5) For the purposes of paragraph (4) but without prejudice to the generality thereof, purposes to which capital money is properly applicable shall be deemed to include–

(a)the payment of any interest falling due on a sum of money borrowed under this Article within the five years immediately following the date of that borrowing; and

(b)the repayment within 12 months of the date of borrowing of any sum for the time being outstanding by way of principal on any amount previously borrowed.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources