Public Works Loans Act 1952

1952 Chapter 3

An Act to grant money for the purpose of certain local loans out of the Local Loans Fund, and for other purposes relating to local loans.

[16th December 1952.]

Be 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:—

1Grants for public works

1

There may be issued by the National Debt Commissioners for the purpose of local loans by the Public Works Loan Commissioners any sum or sums not exceeding in the whole the sum of five hundred million pounds.

2

The sums so issued shall be issued during the period beginning with the passing of this Act and ending on the day on which a further Act granting money for the purposes of those loans comes into operation, and in accordance with the provisions of the National Debt and Local Loans Act, 1887.

2Limit on commitments by Public Works Loan Commissioners

The period aforesaid shall be an issue period within the meaning of section two of the Public Works Loans (No. 2) Act, 1946 (which enables the Public Works Loan Commissioners to undertake to grant loans which include loans falling to be advanced after the expiration of the current issue period), and the aggregate of—

a

the commitments of the Public Works Loan Commissioners outstanding at any time during the said issue period in respect of undertakings entered into by them (whether during or before the beginning of that period) to grant local loans; and

b

the advances in respect of local loans made by the Public Works Loan Commissioners during that period up to that time;

shall not exceed the sum of one thousand and fifty million pounds.

3Debt not to be reckoned among assets of Local Loans Fund

Whereas it is expedient that the principal of the local loan specified in the table contained in the First Schedule to this Act should, to the extent specified in the third column of that table, not be reckoned among the assets of the Local Loans Fund:

Now, therefore, the principal of the said loan to the extent aforesaid shall be written off from the account of assets of the Local Loans Fund, and the provisions of section fifteen of the National Debt and Local Loans Act, 1887, shall, so far as applicable, apply thereto.

4Remission of balance of principal and interest of certain local loans

Whereas the principal of the local loan specified in the table contained in the First Schedule to this Act is irrecoverable to the extent of the sum specified in the third column of that table:

And whereas the principal of the local loans specified in the table contained in Part I of the Second Schedule to this Act, which was written off from the assets of the Local Loans Fund by the Acts specified in the fourth column of that table, remains unpaid and is irrecoverable to the extent of the sums specified in the third column of that table:

Now, therefore, the principal of the said loans shall, to the extent aforesaid, be extinguished and all arrears of interest thereon shall be remitted.

5Remission of interest on certain local loans

Whereas there are arrears of interest on the local loans specified in the table contained in Part II of the Second Schedule to this Act of the amounts specified in the third column of that table, and those arrears of interest are irrecoverable:

Now, therefore, those arrears of interest shall be remitted.

6Payments to Local Loans Fund, and deductions from N.I. residuary share of reserved taxes, in respect of certain local loans

1

There may be paid into the Local Loans Fund, out of moneys provided by Parliament, such sum as the Treasury, after consultation with the Ministry of Finance for Northern Ireland, may certify to be equivalent to the redemption value, at such date as may be specified in the certificate, of the amount then outstanding in respect of the loans to which this section applies.

2

Any payment under the foregoing subsection shall be made good by deduction from the Northern Ireland residuary share of reserved taxes.

3

Subsection (2) of section twenty-seven of the Government of Ireland Act, 1920 (which provides for annual payments to the Local Loans Fund, and deductions from the Northern Ireland residuary share of reserved taxes, on account of the amount due in each year in respect of the loans to which this section applies), shall not apply to amounts due in respect of those loans after the date specified in any certificate under subsection (1) of this section; and any sums collected after the said date by the Government of Northern Ireland on account of those loans may, instead of being paid into the Exchequer of Northern Ireland under subsection (1) of the said section twenty-seven, be dealt with in such manner as the Parliament of Northern Ireland may determine.

4

The loans to which this section applies are all loans made out of the Local Loans Fund before the twenty-second day of November, nineteen hundred and twenty-one, to authorities and persons in Northern Ireland, other than advances made for the purposes of the enactments relating to land purchase in Ireland.

7Short title

This Act may be cited as the Public Works Loans Act, 1952.

SCHEDULES

FIRST SCHEDULELoan by the Public Works Loan Commissioners under the housing acts

Sections 3, 4.

Name of borrower	Amount of loan	Amount of principal outstanding
	£	£	s.	d.
Kenfig Homes Limited	141,590	39,940	19	11

SECOND SCHEDULELoans by the Public Works Loan Commissioners under the agricultural credits act, 1923 (including Advances under S. 22 (4) of the Public Works Loans Act, 1875)

Sections 4, 5.

PART I

Name of borrower	Amount of loan	Amount of principal outstanding			Act under which principal written off from the assets of the Local Loans Fund
	£	£	s.	d.
Mr. Peter Beekie	510	26	13	3	Public Works Loans Act, 1934
Mr. William Bell, Junior	7,905	1,841	4	0	do.
Mr. Richard Thomas Bolt	3,750	575	5	7	do.
Mr. Thomas Bradridge	3,637	899	16	6	do.
Miss Clara Dows	3,117	2,147	1	11	do.
Mrs. Mary Steele Gilruth	4,000	395	18	11	do.
Mr. Septimus Hay	2,520	932	16	3	do.
Mr. Robert Jack	5,000	23	13	5	do.
Mr. Wilfred Leonard Marsh	6,750	1,041	2	11	do.
Mr. James Miller	4,000	536	14	11	do.
Mr. Herbert William Nicholds	2,512	858	15	9	do.
Mr. Hugh Waterson	2,700	140	0	0	do.
Mr. Reuben Brader	2,062	1,172	17	7	Public Works Loans Act, 1935
Mr. and Mrs. John Brown	2,385	216	0	3	do.
Mr. Herbert Breedon Fryer	1,950	1,856	18	3	do.
Mr. Walter James Gowlett	3,097	570	13	5	do.
Mr. James Arthur Hatwell	2,400	234	19	5	do.
Mr. Llewellyn Hopkins	540	231	6	8	do.
Mr. Joseph Parker Jones	7,260	371	18	10	do.
Mr. Alan Watterston King	4,968	676	1	8	Public Works
Mr. Montagu Francis Martin	2,400	767	12	7	Loans Act, 1935 do.
Mr. Richard Kittow Slade	7,500	1,937	1	8	do.
Mr. William Webster	5,625	3,368	1	7	do.
Messrs. William and Albert Edward Barnes	3,000	1,072	6	10	Public Works Loans Act. 1937
Mr. William Thomas Bone	1,050	415	19	7	do.
Messrs. Frank Herman and William Charles Collett	3,780	329	0	9	do.
Mr. Robert Cox	1,762	229	18	3	do.
Mr. William Harrison	1,462	186	17	11	do.
Mr. Basset Huntbach	3,619	316	3	4	do.
Mrs. Anne Isabel and Mr. George Thomas Olarenshaw	1,515	350	19	9	do.
Mr. Herbert Edward Olorenshaw	787	585	2	3	do.
Mr. Charles Hubert Pegrum	1,700	497	1	9	do.
Mr. Arthur John Soper	1,106	714	9	8	do.
Mr. John Chapman	6,090	146	8	4	Public Works Loans (No. 2) Act. 1937
Mr. Alfred George Cooke 1	2,475	714	7	1	do.
Mr. Thomas Llewellyn Davies	1,700	325	0	7	do.
Mr. Ernest Alfred Dowty	1,185	384	16	2	do.
Mr. Charles Henry Huntley	3,375	943	13	9	do.
Mr. Walter Herbert Parris	3,300	1,357	3	9	do.
Mr. Robert Spreckley	1,200	415	5	3	do.
Mr. John Heaton	10,597	969	18	2	Public Works Loans Act. 1938
Mr. Benjamin Penistan	3,637	2,788	7 1	0	Ho
Mr. James Calder	705	182	17	8	Public Works Loans Act. 1941
Mr. Ernest Cloke	11,077	2,350	3	6	do.
Mr. John Jacob Jackson	8,250	4,271	10	1	do.
Mr. Albert Edward Marsh	700	71	0	11	do.
Mr. Walter Atkinson Neave	6,000	1,019	6	2	do.
Mr. Harry James Payne and Miss Florence Louisa Payne	3,206	523	6	7	do.
Mr. William Rafton	4,500	1,689	16	1	do.
Mr. William Rawling and Miss Laura Rawling	8,250	5,478	17	6	do.
Mr. John Edward Robson	2,634	800	10	8	do.
Mr. Frederick Rowell	2,400	2,257	5	1	Public Works Loans Act, 1941
Messrs. Edward Walls Watson and Albert Watson	2,310	229	11	4	do.
Mr. David Collins	5,854	5,043	5	9	Public Works Loans Act, 1944
Mr. Thomas Eynon	6,975	520	14	5	do.
Mr. Herbert Howson	4,650	211	12	5	do.
Mr. Morton Jack	4,900	289	16	10	do.
Mr. Harry Luker	6,145	856	2	10	do.
Mr. William Taylor Malcolm	14,594	1,654	11	1	do.
Colonel Norman Martyn	2,231	583	16	10	do.
Mr. Percy Stops	5,000	211	9	10	do.
Mr. Arthur John Bailey	1,578	151	2	1	Public Works Loans Act, 1946
Mr. Edward James Barker	1,650	1,113	3	0	do.
Mr. Tom Beswick	5,150	821	5	2	do.
Mr. Walter Boynton	16,012	3,084	11	8	do.
Mr. Lee Bussey	6,450	1,547	0	3	do.
Mr. Harry Carter	4,350	1,121	8	0	do.
Mr. Isaac Holliday Coates	1,312	470	16	7	do.
Mr. William John Edwards and Mrs. Mary Edwards	2,895	1,700	16	11	do.
Mr. John Henry Elliott	1,200	38	0	5	do.
Miss Jane Embleton and Miss Agnes Embleton	13,500	959	11	6	do.
Mr. Robert Fox	5,445	497	9	6	do.
Mr. Thomas Hardy	5,285	4,714	1	7	do.
Mr. Thomas Harrison and Mr. Thomas William Harrison	4,200	4,105	9	9	do.
Mr. Stanley William Hayward	2,500	1,118	0	7	do.
Mr. Adrian Frederick Stanley Howell	5,500	5,434	11	1	do.
Mr. Edward Knight	785	427	19	4	do.
Mr. John Morgan and Mrs. Harriett Anna Morgan	3,000	2,954	4	1	do.
Mr. Edward James Ellerton Posgate	6,300	249	19	8	do.
Mr. Ernest Saddington	10,800	1,588	19	3	do.
Mr. John Thomas Collen Salmon	7,500	3,158	9	7	do.
Mr. David Smith	3,705	2,550	13	5	do.
Mr. John Arkle Stobbart	7,500	972	10	6	do.
Mrs. Alberta Ward	11,325	4,271	16	3	do.
Mr. William Thirby Walker	5,025	491	18	4	do.
Mr. Walter Woolley	7,830	2,461	8	8	do.
Mr. James Baxter	2,300	2,229	15	0	Public Works Loans Act, 1947
Mr. Thomas Cook	19,275	9,456	1	6	do.
Mr. Ernest William Nickerson and Mr. Charles Alfred Peck	7,500	485	9	8	do.
Mr. Thomas Ford Robinson	13,207	4,797	1	2	do.
Mr. Andrew Atkinson	4,753	2,466	16	2	Public Works Loans Act, 1949
Mr. George Holloway	3,345	1,760	10	1	do.
Mr. Thomas Moulton	4,200	722	18	0	do.
Mr. Thomas Archbold Wanless Nicholson	13,500	785	10	6	do.

PART II

Name of borrower	Amount of loan	Amount of interest to be remitted
	£	£.	s.	d.
Mr. Jermyn Moorsom	16,000	461	3	9
Mr. James Elliot Turnbull	6,375	103	5	5

Table of Statutes referred to in this Act

Short Title	Session and Chapter
Public Works Loans Act, 1875	38 & 39 Vict. c. 89.
National Debt and Local Loans Act, 1887	50 & 51 Vict. c. 16.
Government of Ireland Act, 1920.	10 & 11 Geo. 5. c. 67.
Agricultural Credits Act, 1923	13 & 14 Geo. 5. c. 34.
Public Works Loans Act, 1934	24 & 25 Geo 5 c. 48.
Public Works Loans Act, 1935	26 Geo. 5. & 1 Edw. 8. c. 5.
Public Works Loans Act, 1937	1 Edw. 8. & 1 Geo. 6. c. 11.
Public Works Loans (No. 2) Act, 1937	1 & 2 Geo. 6. c. 7.
Public Works Loans Act, 1938	2 & 3 Geo. 6. c. 2.
Public Works Loans Act, 1941	4 & 5 Geo. 6 c. 14.
Public Works Loans Act, 1944	7 & 8 Geo. 6. c 16.
Public Works Loans Act, 1946	9 & 10 Geo. 6. c. 41.
Public Works Loans (No. 2) Act, 1946	9 & 10 Geo. 6. c. 75.
Public Works Loans Act, 1947	11 & 12 Geo. 6. c. 13.
Public Works Loans Act, 1949	12, 13 & 14 Geo. 6. c. 82.