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The Langstone Harbour Revision Order 1990
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- 1990 No. 615
- Explanatory Note
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Explanatory Note
(This note is not part of the Order)
The Order fixes the limit on borrowing by, and changes the borrowing powers of, the Langstone Harbour Board. The Secretary of State’s consent, which was previously required for any borrowing by the Board, was abolished as a result of section 3 of the Ports (Finance) Act 1985 (c. 30). The Order sets a maximum limit of £500,000, which sum can be borrowed without the Secretary of State’s consent. The Order also authorises temporary borrowing up to a maximum of £100,000. It further substitutes the audit provisions (withany necessary modifications) of the Local Government Finance Act, 1982 for those of the Local Government Act 1933 which are incorporated withthe local legislation of the Board.
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