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Harbours Act (Northern Ireland) 1970

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Harbours Act (Northern Ireland) 1970, Section 31 is up to date with all changes known to be in force on or before 03 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

31Borrowing by harbour authorities.N.I.

(1)The purposes for which a harbour authority may borrow money under any statutory provision shall include the following:—

(a)meeting any expenses properly chargeable to capital;

(b)acquiring a business or undertaking or part of a business or undertaking in the exercise of powers conferred by section 24 or any other statutory provision;

(c)subscribing for or acquiring any securities (within the meaning of that section) of a body corporate in the exercise of such powers as are mentioned in paragraph ( b).

(2)So much of any statutory provision of local application as limits the rate of interest at which a harbour authority may borrow money shall cease to have effect.

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