Dissolution of National Dock Labour Board

4Financial provisions relating to winding up of Board’s affairs

(1)

Any liability of the Board to the Secretary of State immediately before the date of the passing of this Act in respect of loans made under—

(a)

section 3(3) of the M1Dock Work Regulation Act 1976 (finances of the Board), or

(b)

section 4 of the M2Dock Workers (Regulation of Employment) Act 1946 (loans for purposes of schemes),

shall be extinguished on that date.

(2)

During the transitional period the Secretary of State may, with the consent of the Treasury, make payments to the Board for the purpose of meeting—

(a)

any expenses incurred during that period by the Board in connection with the winding up of the Board’s affairs or any other activities of the Board, or

(b)

any outstanding liabilities of the Board to persons other than the Secretary of State.

(3)

Any sums required by the Secretary of State—

(a)

for making payments under subsection (2), or

(b)

for making payments of remuneration to a person appointed under section 3,

shall be paid out of money provided by Parliament.