Statutory Corporations (Financial Provisions) Act 1974

Section 4.

SCHEDULE 2 U.K. Amendments Relating to Borrowing Powers

Modifications etc. (not altering text)

C1 The text of Schs. 2, 3 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and except as specified does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

Bodies Corporate	A ct	Amendment
1.(1)The British Railways Board.	The Transport Act 1962 (10 & 11 Eliz. 2. c. 46).	In section 19(2), after the word “Minister” there shall be inserted the words “or, with the consent of the Secretary of State and the approval of the Treasury, may borrow (otherwise than by way of temporary loan) in a currency other than sterling from any person, or in sterling from the Commission of [F1 the European Union] or from the European Investmen t Bank”.
(2)The British Transport Docks Board.		In section 21(1) the words “subsection (1) of” shall be omitted.
(3)The British Waterways Board.
(4)The National Bus Company.
(5)The Scottish Transport Group.
(6) . . . F2
2.(1)–(3) . . . F3	. . . F3	. . . F3
3. F4 ...	F4 ...	F4 ...
4. . . . F5	. . . F5	. . . F5
5. . . . F6	. . . F6	. . . F6
6.(1) The British Overseas Airways Corporation.	The Air Corporations Act 1967 (1967 c. 33).	In section 7(2) (as substituted by paragraph 19 of Schedule 10 to the Civil Aviation Act 1971), after the word “Board” there shall be inserted the words “or, subject to those limits and with the consent of the Secretary of State and the approval of the Treasury, may borrow in sterling from the Commission of [F1 the European Union] or from the European Investment Ba nk”.
(2) The British European Airways Corporation.		In section 10(1), in paragraph (a) the word “temporary” shall be omitted ; and in paragraph (c), for the words “any such loan as is mentioned in the last preceding paragraph” there shall be substituted the words “a loan raised by the corporation”.
7. (1)–(2) . . . F7	. . . F7	. . . F7
8. . . . F8	. . . F8	. . . F8
9. The Covent Garden Market Authority.	The Covent Garden Market Act 1961 (9 & 10 Eliz. 2. c. 49).	In section 38, in subsection (2), the words “may borrow by the issue of stock or debentures” shall be omitted, and at the end of that subsection there shall be inserted the words “may borrow from any person by the issue of stock or debentures, or may borrow from any person any sum in a currency other than sterling, or may borrow any sum in sterling from the Commission of [F1 the European Union] or the European Investmen t Bank”.
	The Covent Garden Market Act 1966 (1966 c. i).	In section 34, at the end of subsection there shall be inserted the words “or the repayment of the principal of, and the payment of interest on, any money borrowed by the Authority (otherwise than by the issue of stock or debentures) under subsection (1) or subsection (2) of section 38 of the Act of 1961”.
10. . . . F9	. . . F9	. . . F9

Textual Amendments

F1 Words in Act substituted (22.4.2011) by The Treaty of Lisbon (Changes in Terminology) Order 2011 (S.I. 2011/1043), arts. 2, 3, 4 (with art. 3(2)(3)4(2)6(4)6(5))

F2 Sch. 2 para. 1 entries repealed by Transport Act 1980 (c. 34, SIF 126), Sch. 9 Pt. III

F3 Sch. 2 para. 2 entries relating to the Electricity Council, the North of Scotland Hydro-Electric Board and the South of Scotland Electricity Board repealed by Electricity Act 1989 (c. 29, SIF 44:1), s. 112(3)(4), 113(2), Sch. 17 para. 35(1), Sch. 18

F4 Sch. 2 para. 3 repealed (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), Sch. 1 Pt. 9 Group 6

F5 Sch. 2 para. 4 repealed by British Telecommunications Act 1981 (c. 38, SIF 96), s. 89, Sch. 6 Pt. II

F6 Sch. 2 para. 5 repealed by Airports Authority Act 1975 (c. 78), Sch. 6

F7 Sch. 2 para. 7 repealed by Civil Aviation Act 1980 (c. 60, SIF 9), s. 28, Sch. 3 Pt. II

F8 Sch. 2 para. 8 repealed by Iron and Steel Act 1975 (c. 64), Sch.7

F9 Sch. 2 para. 10 repealed by Maplin Development Authority (Dissolution) Act 1976 (c. 51), Sch.