- Latest available (Revised)
- Point in Time (01/01/2006)
- Original (As enacted)
Point in time view as at 01/01/2006.
There are currently no known outstanding effects for the Transport Act (Northern Ireland) 1967, Section 51.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
(1)The Holding Company shall not borrow money except in accordance with the provisions of this section.
(2)Subject to subsection (3) the Holding Company with the approval of the Ministry may, for the purpose of discharging its functions, making loans to a subsidiary company or meeting its obligations, borrow money from time to time in any of the following ways—
(a)by way of overdraft or other arrangement with bankers or otherwise;
(b)from a subsidiary of the Company;
(c)by means of[F1 government loans under Part III of the Financial Provisions (Northern Ireland) Order 1983].
(3)The aggregate of the amounts of principal outstanding in respect of moneys borrowed after the coming into operation of this section by the Holding Company under paragraphs ( a) and ( b) of subsection (2) shall not at any time exceed [F2 ten million pounds].
(4)The Ministry of Finance may guarantee in such manner and subject to such conditions as it thinks fit the payment of the interest and principal of any loan raised by the Holding Company under subsection (2)( a).
(5)Such sums as may from time to time be required by the Ministry of Finance for fulfilling any guarantees given by it under subsection (4) or given by it in respect of any loans raised by the Ulster Transport Authority shall be charged on and issued out of the Consolidated Fund and for the purpose of providing for such issues the Ministry of Finance may borrow money.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.