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Fisheries Act 1981

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This is the original version (as it was originally enacted).

7Government 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.

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