(1)The Highlands and Islands Shipping Services Act 1960 (c. 31) (financial and other assistance to those concerned with providing sea transport services for the Highlands and Islands), so far as relating to the provision of that assistance by the Scottish Ministers, ceases to have effect.
(2)Nothing in subsection (1) above affects any undertaking given, advance made, contract or other obligation or transaction entered into or action entered upon before that subsection comes into force.
(3)Section 70 of the Transport (Scotland) Act 2001 (asp 2) (grants for transport-related purposes) is amended in accordance with subsections (4) to (6) below.
(4)In subsection (1), after “grants” there is inserted “or loans”.
(5)In subsection (2)—
(a)after “Grants” there is inserted “and loans”;
(b)for “amount” there is substituted “amounts”;
(c)after “including” there is inserted “, in the case of grants,”.
(6)In subsection (4)—
(a)after “grants” insert “and loans”;
(b)after “grant”, in both places where it occurs, there is inserted “or loan”.