Exchequer Assistance for Execution of harbour Works, &c.
11 Loans for execution of harbour works, &c. C1
C21
Subject to the provisions of this section, the Minister, with the approval of the Treasury . . . F1 may, out of moneys which, by virtue of the following provisions of this Act, are issued to him for the purpose out of the F2National Loans Fund, give to a harbour authority assistance by way of loan—
a
in respect of expenses incurred by them—
i
in executing, at a harbour which in the exercise and performance of statutory powers and duties they are engaged in improving, maintaining or managing, works for the improvement, maintenance or management of the harbour;
ii
in acquiring plant or equipment required for the carrying out at the harbour of harbour operations;
iii
in acquiring land required for the purposes of the harbour or an extension thereof;
b
to enable them to repay the whole or part of the principal of, or to pay the whole or part of a sum due by way of the payment of interest on, a loan made to them by virtue of the foregoing paragraph,
provided that, in the case of assistance in respect of expenses incurred, he is satisfied that the expenses are such as ought properly to be regarded as being of a capital nature.
2
Assistance given under the foregoing subsection in respect of expenses incurred in the execution of any works may include a sum in respect of costs in, or in connection with, the preparation of plans and specifications of the works, reports with respect thereto and estimates of the expenses to be incurred for the purposes of the execution thereof and a sum in respect of the remuneration of any architect, engineer or other person employed in an advisory or supervisory capacity in connection with the execution of the works.
3
No assistance shall be given under subsection (1) of this section for the repayment of any such part of the principal of a loan as falls due for repayment more than five years from the date on which the loan was made or for the payment of interest on a loan for any period beginning more than five years from that date.
4
No assistance shall at any time be given under subsection (1) of this section by the Minister to a harbour authority in respect of expenses incurred by them in relation to a harbour or to enable them to repay the principal of, or to pay interest on, a loan unless at that time the harbour is neither a fishery harbour nor a marine work.