38.—(1) The accounts of the Commissioners shall be made up to the end of 31st March in any year or to such other date as the Commissioners may determine.
(2) As soon as reasonably practicable after their annual statement of accounts is prepared and audited, the Commissioners must—
(a)make available a copy of the statement for a period of three months at the offices of the Commissioners for inspection free of charge by members of the public; and
(b)subject to the payment of a reasonable charge, supply a copy of the statement to any person who requests to be supplied with a copy.
39.—(1) Notwithstanding anything contained in any enactment, the Commissioners may from time to time, for the general purposes of the undertaking, borrow upon the security of all or any of the revenues and property of the Commissioners and by any method or methods which they see fit such sums of money as they consider necessary.
(2) Moneys borrowed under paragraph (1) may be applied only to purposes to which capital money is properly applicable.
(3) For the purposes, but without prejudice to the generality, of paragraph (2) purposes to which capital money is properly applicable shall be deemed to include—
(a)any major works of repair or maintenance of any part of the works forming part of the undertaking;
(b)the payment of any interest falling due within the five years immediately following the date of the borrowing of any sum of money borrowed by the Commissioners under this article;
(c)the repayment within 12 months from the date of borrowing of any sum for the time being outstanding by way of principal on any amount previously borrowed; and
(d)any payment relating to pensions paid or to be paid to any past or present employee of the Commissioners or to the family or dependants of such persons.
40. Where the Commissioners, in the exercise of powers conferred upon them by any enactment, commence any work or operations, they may, during such period not exceeding five years from the commencement of the work as they determine, charge to capital as part of the cost of the work interest on any money raised to defray—
(a)the cost of the acquisition of any lands for the purpose of the work; and
(b)the expenses of constructing or carrying out the work.
41. The Commissioners may borrow temporarily, by way of overdraft or otherwise, such sums as they may require for meeting their obligations or discharging their functions.
42.—(1) The Commissioners may establish and maintain reserve funds.
(2) The Commissioners may if they think fit carry to a reserve fund such part of their receipts on revenue account as shall be available for the purpose until in any year the fund amounts to a sum equivalent to the gross revenue of the Commissioners in the immediately preceding financial year and if the fund at any time falls below that amount the Commissioners may carry to the fund so much of any such receipts as is required to restore the fund to that amount and is available for the purpose.
(3) Any reserve fund established or maintained under this article shall from time to time be applied by the Commissioners in their discretion—
(a)in or towards meeting any deficiency on revenue account in any year; or
(b)to meet any extraordinary claim or demand in respect of the undertaking; or
(c)in or towards payment of the cost of renewing, improving, extending or replacing any part of the works forming part of the undertaking or any vessels, plant or equipment of the Commissioners; or
(d)for improving the operational area and the navigation of the harbour and the approaches to the harbour; or
(e)for any other lawful purpose sanctioned by the Commissioners.
43.—(1) The Commissioners must keep at their principal office a register of all charges created by them under article 39.
(2) The Commissioners must enter on the register in relation to each charge—
(a)the revenues or property charged; and
(b)the amount of the charge and the name of the person entitled to it.
(3) The Commissioners must allow the register to be inspected during reasonable hours—
(a)by any chargee, without charge; and
(b)by any other person, upon payment of a reasonable fee.
(4) The fee charged by the Commissioners under paragraph (3)(b) must not exceed what they consider a reasonable contribution towards the cost incurred by the Commissioners in providing facilities for the inspection.
44. The Commissioners may invest in any manner in which they are for the time being authorised to invest moneys the whole or any part of any sum borrowed under this Order and not for the time being required for the purpose for which it was borrowed, and any other money held by the Commissioners for the purposes of this Order and not for the time being required for the purposes of the undertaking.
45. All revenues received by the Commissioners shall be applied in the following order—
(a)in payment of any expenses properly chargeable to revenue incurred by the Commissioners;
(b)in payment year by year of the interest accruing on any moneys borrowed by the Commissioners; and
(c)in making provision for the repayment of moneys borrowed by the Commissioners.
46.—(1) In this article, “company” has the meaning given by section 1 of the 2006 Act and in this article and in article 47 “subsidiary” has the meaning given by section 1159 of that Act.
(2) The Commissioners for the purposes of the undertaking may give guarantees and enter into contracts of indemnity or suretyship of all kinds for the benefit of any subsidiary or other company in which the Commissioners have a substantial holding and in connection with such guarantees or contracts may mortgage or charge all or any of their property, revenues or tolls.
47.—(1) In this article, “harbour operations” has the meaning given by section 57 of the 1964 Act.
(2) The Commissioners may lend money for the purposes of the harbour to—
(a)any subsidiary of the Commissioners; or
(b)any person carrying on or proposing to carry on harbour operations or any business in the harbour.
48.—(1) The Commissioners may pay such gratuities, pensions or allowances and make such other payments as they may think fit to any past or present employee of the Commissioners or the family or dependants of such an employee.
(2) The Commissioners may enter into and carry into effect, agreements with any insurance company or other body for securing for the benefit of any such employee, family or dependants such gratuities, pensions, allowances or payments as are authorised by this article.
49.—(1) The Commissioners may pay or make reasonable subscriptions, payments or donations, whether annually or otherwise, to the funds of such associations, public institutions or charities as the Commissioners think fit.
(2) The Commissioners may defray reasonable expenses incurred in connection with official receptions, promotion or entertainment connected with the affairs of the Commissioners.