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GREAT NORTHERN RAILWAY ACT, 1958
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PART V. Finance. | |
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Grants to Board. |
23. —The annual grant to be made by the Minister to the Board under section 10 of the Transport Act, 1958 , in the financial year beginning on the 1st day of April, 1959, and in each of the next four financial years is hereby increased from £1,000,000 to £1,175,000 and that section shall stand amended accordingly. |
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Borrowing powers of Board. |
24. — Section 28 of the Transport Act, 1950 (as amended by section 2 of the Transport Act, 1955 ) is hereby amended by the substitution in paragraph (c) of subsection (1) (which imposes a limit on temporary borrowing) of £2,000,000 for £1,500,000. |
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State guarantee of temporary borrowing. |
25. —Subsection (1) of section 30 of the Transport Act, 1950 (as amended by section 3 of the Transport Act, 1955 ) is hereby amended by the substitution in paragraph (b) (which imposes a limit on the guarantee by the Minister for Finance of temporary borrowing) of £1,500,000 for £1,000,000. |