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The Humber Bridge (Debts) Order 2007

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EXPLANATORY NOTE

(This note is not part of the Order)

Section 5(3) of the Humber Bridge Act 1971 authorises the Secretary of State for Transport to enter into agreements with the Humber Bridge Board for the financing of the construction and maintenance of the Humber Bridge. Section 1(1) of the Humber Bridge (Debts) Act 1996 empowers the Secretary of State to provide that any sum (including interest) payable to him by the Board pursuant to such agreements shall not be payable.

This Order releases the Board from its obligation to pay to the Secretary of State, under agreements with him dated 29th March 1972, 1st July 1998 and 19th June 2007, the sums of interest specified in the Schedule. The reduced rates of interest will only apply over the five year period from 1 April 2006 to 31 March 2011. The interest to be payable thereafter will be reviewed towards the end of that period.

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

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