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Severn Bridges Act 1992
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ReceiptsU.K.
1(1)The receipts referred to in section 7 of this Act are relevant receipts and assumed interest receipts.U.K.
(2)In this Schedule “relevant receipts” means—
(a)tolls collected by or on behalf of the Secretary of State,
(b)other sums received by the Secretary of State—
(i)under or by virtue of this Act, or
(ii)in connection with the exercise of relevant functions by him or on his behalf,
(c)capital sums and interest paid to the Secretary of State by the concessionaire in accordance with the concession agreement in respect of the existing deficit,
(d)any sums received by the Secretary of State in consequence of or in connection with the termination of the concession agreement or in pursuance of a right transferred to him under or by virtue of section 19 of this Act on the termination, and
(e)any other receipts of the Secretary of State which he may specify as relevant receipts.
(3)In this Schedule “assumed interest receipts” means interest assumed to accrue on any daily surplus of relevant receipts over the amounts treated as applied for the purposes mentioned in paragraph 2 below.
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