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British Railways Board (Finance) Act 1991
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British Railways Board (Finance) Act 1991
1991 CHAPTER 63
An Act to alter the limits under section 42(6) of the Transport Act 1968 relating to the indebtedness of the British Railways Board and the limits on the amount of compensation payable in respect of certain public service obligations of the Board.
[25th July 1991]
F1Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
Textual Amendments
F1Act repealed (prosp.) by 2000 c. 38, ss. 274, 275(1), Sch. 31 Pt. IV
Commencement Information
I1Act wholly in force at Royal Assent.
1 Increased borrowing limit for British Railways Board.U.K.
(1)In section 42(6) of the M1Transport Act 1968 (which, as amended by section 1 of the M2Transport (Finance) Act 1982, limits the aggregate amount outstanding in respect of the principal of money borrowed by the British Railways Board and its commencing capital debt to £1,100 million or such greater sum not exceeding £1,300 million as the Secretary of State may by order specify) for the words from “shall not exceed” to “as the Minister” there shall be substituted “shall not exceed £3,000 million or such greater sum not exceeding £5,000 million as the Secretary of State”.
(2)Section 1 of the Transport (Finance) Act 1982, which is superseded by subsection (1) above, is hereby repealed.
F22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F2S. 2 repealed (1.4.1994) by 1993 c. 43, s. 152(3), Sch.14; S.I. 1994/571, art. 5
3 Short title.U.K.
This Act may be cited as the British Railways Board (Finance) Act 1991.
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