Harbours Act (Northern Ireland) 1970

N.I. Financial Provisions

30 Accounts, &c., relating to harbour authorities. N.I.

(1) An annual statement of accounts which—

(a) relates to a harbour authority (whether or not it relates also to another authority); and

(b) is, by virtue of a statutory provision made with respect to it, required to be prepared by the authority;

shall, so far as it relates to the authority, be in such form, contain such particulars and be compiled in such manner as may be prescribed in relation to the authority by regulations made by the Ministry subject to negative resolution.

(2) A harbour authority shall be under an obligation to comply with such of the following requirements as it is not, by virtue of other statutory provision made with respect to the authority, under obligation to comply with, namely—

(a) to prepare an annual statement of accounts relating to the authority;

(b) to send to the Ministry a copy of each such annual statement;

(c) to send to the Ministry a copy of the auditors' report upon each such annual statement.

(3) No regulation under subsection (1) shall be taken to require the doing of anything in contravention of any requirement imposed by the[F1 Companies (Northern Ireland) Order 1986] with respect to the form, contents or manner of compilation of accounts.

(4) Regulations under this section may be made so as to apply to a particular harbour authority.

F1 1986 NI 9

31 Borrowing 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.

32 Over-riding of limits on borrowing powers of harbour authorities. N.I.

Where the Ministry is satisfied—

(a) that expenditure incurred or to be incurred by a harbour authority for any purpose for which the authority may borrow money should be met by borrowing and repayment spread over a term of years; and

(b) that the borrowing would exceed any limit imposed by any enactment passed before 20th December 1956 on the borrowing powers of the authority;

then notwithstanding any such enactmentF2 . . . the authority may borrow money to meet the expenditure.

F2 1991 NI 6

33 Miscellaneous financial provisions. N.I.

(1) Where—

(a) the Ministry recommends that the whole or any part of the principal or interest of a loan made under this Act should be written off by reason that it not likely to be recovered; and

(b) the Ministry of Finance directs that the amount is to be written off;

the amount shall be treated as a loss to the Exchequer, but this subsection shall not affect the liability of any person to pay to the Ministry the principal of, or interest on, any such loan or part thereof.

(2) Any amount which is repayable to the Ministry under this Act may, without prejudice to any other means of recovery, be recoverable by deduction from any grant or other sum payable out of money provided by Parliament or the Consolidated Fund by a government department to the person from whom the amount is due, and that grant or sum shall be abated accordingly.

Subs.(3) rep. by SLR 1976

(4) The Ministry of Finance may issue out of the Consolidated Fund to the Ministry such sums as are necessary to enable the Ministry to make loans under section 2 or grants under section 3.

(5) For the purpose of providing sums to be issued under subsection (4), the Ministry of Finance may borrow money.

(6) Money borrowed under subsection (5) shall be repaid within sixty years from the date of borrowing and provision for the repayment may be made out of money provided by Parliament.

S.34, with Schedule 5, effects amendments