The Dover Harbour Revision Order 2014

Financial

Power to borrow

9.—(1) The Board, including any subsidiary of the Board, may from time to time borrow, by any methods they see fit, such sums of money as they think necessary for the purposes of meeting their obligations in carrying out their functions(1); and where moneys are borrowed by the Board or a subsidiary under this article, the Board or subsidiary may, if they see fit, borrow those moneys upon the security of some or all of their assets for the time being or of some or all of their revenues or of some or all of both their assets and their revenues.

(2) This power is in addition to article 19 of the 2006 Order (borrowing and guarantees).

Power to lend

10.  The Board may, for the purposes of or in connection with the carrying on of the undertaking, lend money to—

(a) any such company as is referred to in article 4(1)(b), 5(1)(b) or 7(1) or article 5 of the 2006 Order (power to form subsidiaries); or

(b) any person carrying on or proposing to carry on harbour operations(2) or any business within or in the vicinity of the harbour.

Reserve funds

11.—(1) The Board may establish and maintain reserve funds.

(2) The Board may if they think fit carry to a reserve fund any part of their receipts on revenue account as shall be available for the purpose.

Payment of subscriptions, etc.

12.  The Board 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 Board think fit.

Saving for Trinity House

13.  Nothing in this Order shall prejudice or derogate from any of the rights, duties or privileges of the Corporation of Trinity House of Deptford Strond.

(1)

For the definition of “functions” see section 57(1).

(2)

For the definition of “harbour operations” see section 57(1).