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Water Act 1981

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1Increased borrowing powers of British Waterways Board.

(1)For paragraph (iv) of subsection (3) of section 19 of the Transport Act 1962 there shall be substituted the following paragraph—

(iv)for the British Waterways Board £25 million or such greater sum not exceeding £35 million as the Secretary of State may by order made by statutory instrument specify.

(2)After the said subsection (3) there shall be inserted the following subsection—

(3A)An order made under paragraph (iv) of subsection (3) above shall be made by statutory instrument, and no such order shall be made unless a draft of the order has been approved by resolution of the House of Commons.

(3)Section 3 of the Transport (Financial Provisions) Act 1977 is hereby repealed.

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