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AGRICULTURAL MARKETING ACTS (NORTHERN IRELAND) 1964 - SECT 10

Power of marketing boards to make loans and grants and to enter into guarantees.

10.(1) A scheme may provide for empowering the board, subject to such
limitations as may be specified in the scheme

(a)to lend or grant money to any other board;

(b)to guarantee payment by any other board of any sums which that board may be
liable to pay on account of principal or interest in respect of any loan
raised by them.

(2) A scheme which contains such a provision as is authorised by subsection
(1) may further provide for securing that any loan, grant or guarantee not
specifically authorised by the scheme shall not be made or given by the board
except in pursuance of a resolution of the board specifying all material
particulars relating to the proposed transaction being a resolution which has
been previously notified to, and approved by, the Ministry.

(3) Any scheme may empower the board to pay on account or lend to any
registered producer a portion of the amount which the board estimate that he
will receive from the sale of any quantity of the regulated product produced
or in course of production or held in store by him.

© 1964 Crown Copyright

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