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Transport Act 1968
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43 Additional financial provisions as to Waterways Board.U.K.
(1)This section applies to the Waterways Board.
(2)The Minister or any other Minister of the Crown may, with the approval of the Treasury, from time to time make grants to the Board.
[F1(2A)The Scottish Ministers may from time to time make grants to the Board.]
(3)On 1st January 1969—
(a)without prejudice to any further adjustment under section 53(5) of this Act, there shall be extinguished such part of the commencing capital debt of the Board under section 39 of the Act of 1962 as is required to be extinguished in order to reduce the commencing capital debt of the Board outstanding on that date to £3,750,000;
(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
(5)[F4Subject to subsection (6) below,] if in any accounting year of the Board there is an excess of the revenue of the Board over the total sums properly chargeable by them to revenue, the Minister may, with the approval of the Treasury, require that excess, so far as it appears to him, after consultation with the Board, to be surplus to the requirements of the Board, to be paid over to the Minister, who shall pay it into the Consolidated Fund.
[F5(6)Where an excess under subsection (5) of this section arises in relation to the activities of the Board in Scotland, the Scottish Ministers may require that excess, so far as it appears to them, after consultation with the Board, to be surplus to the requirements of the Board, to be paid over to the Scottish Ministers.]
Textual Amendments
F1S. 43(2A) inserted (1.4.2001) by S.I. 2000/3251, arts. 1(2)(b), 2, Sch. 2 Pt. II para. 3(2) (with art. 4)
F2S. 43(3)(b) and word “and" preceding it repealed by Transport (Financial Provisions) Act 1977 (c. 20, SIF 126), s. 3(2)(b)
F3S. 43(4) repealed by Statute Law (Repeals) Act 1974 (c. 22), Sch. Pt. VI
F4Words in s. 43(5) inserted (1.4.2001) by S.I. 2000/3251, arts. 1(2)(b), 2, Sch. 2 Pt. II para. 3(3) (with art. 4)
F5S. 43(6) inserted (1.4.2001) by S.I. 2000/3251, arts. 1(2)(b), 2, Sch. 2 Pt. II para. 3(4) (with art. 4)
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