The Port of Tyne Harbour Revision Order 2008

Made8th July 2008

Coming into force14th July 2008

The Port of Tyne Authority (“the Authority”) have applied for a harbour revision order under section 14 of the Harbours Act 19641.

The Secretary of State is the appropriate Minister under section 14(7)2 of that Act and is satisfied as mentioned in section 14(2)(b) of that Act.

The Secretary of State in exercise of the powers conferred by that section and now vested in her3 makes the following Order:

Citation and commencement1

1

This Order may be cited as the Port of Tyne Harbour Revision Order 2008 and comes into force on 14th July 2008.

2

The Port of Tyne Reorganisation Scheme 1967 Confirmation Order 19684, the Port of Tyne Act 19705, the Port of Tyne Revision Order 19726, the Port of Tyne Authority (Constitution) Revision Order 19747, the Port of Tyne (North Shields Fish Harbour) Act 19748, the Port of Tyne Revision Order 19829, the Port of Tyne (Pilotage) Harbour Revision Order 198910, the Port of Tyne Act 198911, the Port of Tyne Act 199012, the Port of Tyne Harbour Revision Order 199813, the Port of Tyne Harbour Revision Order 200114 and this Order may be cited together as the Port of Tyne Acts and Orders 1968 to 2008.

Borrowing powers2

1

The Authority (including any subsidiary of the Authority) may from time to time borrow, by any methods they see fit, such sums of money as they think necessary for the purposes of meeting their obligations in carrying out their functions; and where moneys are borrowed by the Authority under this article, the Authority may, if they see fit, borrow those moneys upon the security of some or all of their assets for the time being or of some or all of their revenues or of some or all of both their assets and their revenues.

2

In this article “subsidiary” means a subsidiary formed under the Port of Tyne Act 1989.

Revocations3

The following are revoked—

a

Articles 59, 60 and 61 of the Port of Tyne Reorganisation Scheme 196715;

b

the Port of Tyne Revision Order 1972; and

c

the Port of Tyne Revision Order 1982.

Signed by authority of the Secretary of State for Transport

Richard BennettHead of Ports DivisionDepartment for Transport8th July 2008

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends the borrowing powers of the Port of Tyne Authority (“the Authority”).

The Authority’s borrowing powers and those of their subsidiaries were capped at £5 million for permanent borrowings and £4 million for temporary borrowings unless the Secretary of State consented in either case to a higher amount.

Article 2 authorises the Authority and their subsidiaries to borrow without any limit such sums of money as they think necessary.

Article 3 revokes the earlier borrowing powers.