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Export Guarantees and Overseas Investment Act 1978

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This is the original version (as it was originally enacted).

5Payments to exporters in respect of cost increases

(1)For the purpose of encouraging trade with other countries, the Secretary of State may, with the consent of the Treasury, make arrangements for making payments to persons carrying on business in the United Kingdom who have entered into export contracts, being payments related to such increases in the cost of labour, materials or other matters as may be specified by or under the arrangements.

(2)Arrangements under this section may contain such terms and conditions as the Secretary of State thinks fit, including provisions requiring payments to be made to the Secretary of State as consideration for his entering into the arrangements.

(3)Subject to subsection (4) below, no arrangements shall be made under this section after 26th March 1979.

(4)The Secretary of State may by order extend the period during which arrangements may be made under this section by not more than one year at a time.

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