Development of Rural Wales Act 1976 (c. 75)

Development Board for Rural Wales E+W+S

12 Limit on public money made available to the Board. E+W+S

(1) The aggregate amount outstanding, otherwise than by way of interest, in respect of—

(a) sums borrowed by the Board under section 9 of this Act;

(b) sums issued by the Treasury in fulfilment of guarantees under section 10 of this Act; and

(c) sums paid to the Board by the Secretary of State under section 11 of this Act;

shall not exceed the limit specified in subsection (2) below.

[F1 (2) The said limit is £175 million.]

(3) . . . F2

Textual Amendments

F1 S. 12(2) substituted (12.2.1991) by virtue of Development Board for Rural Wales Act 1991 (c. 1), s.1.

F2 S. 12(3) repealed by Industry Act 1981 (c. 6, SIF 64), s. 7(3), Sch.