Part I The Sea Fish Industry Authority
Financial provisions
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.