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Inland Navigation Act (Northern Ireland) 1954

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1Agreements transferring certain canal undertakings.N.I.

(1)The Ministry of Commerce (in this Act referred to as “the Ministry”) is hereby authorised and empowered to enter into and give effect to the following agreements:—

(a)an agreement with the Lagan Navigation Company (in this Act referred to as “the Lagan Agreement”) in the terms of the draft agreement set out in the first part of the First Schedule to this Act; and

(b)an agreement with the Upper Bann Navigation Trustees and the councils of the counties of Armagh, Down and Tyrone (in this Act referred to as “the Upper Bann Agreement”) in the terms of the draft agreement set out in the second part of the First Schedule to this Act;

… F1

(2)Subject to the provisions of section ten of this Act, the Lagan Agreement shall operate, without further assurance, to convey, assign and transfer to the Ministry on the date of the execution thereof all the property thereby agreed to be sold, being the undertaking particularly described in the Annex to the draft Agreement set out in the first part of the First Schedule to this Act (in this Act referred to as “the Lagan Navigation”); and, subject to the provisions of section ten of this Act, the Upper Bann Agreement shall operate, without further assurance, to convey, assign and transfer to the Ministry on the date of the execution thereof all the property thereby agreed to be sold, being the undertaking particularly described in the Annex to the draft Agreement set out in the second part of the said Schedule (in this Act referred to as “the Upper Bann Navigation”). …F1.

(3)The date of execution of each of the respective Agreements is in this Act, in relation to the undertaking which is the subject thereof respectively, referred to as “the vesting date”.

Subs. (4) rep. by SLR 1980

F1SLR 1980

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