HARBOURS ACT (NORTHERN IRELAND) 1970 - SECT 31 Borrowing by harbour authorities.

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HARBOURS ACT (NORTHERN IRELAND) 1970 - SECT 31

Borrowing by harbour authorities.

31.(1) The purposes for which a harbour authority may borrow money under any
statutory provision shall include the following:

(a)meeting any expenses properly chargeable to capital;

(b)acquiring a business or undertaking or part of a business or undertaking in
the exercise of powers conferred by section 24 or any other
statutory provision;

(c)subscribing for or acquiring any securities (within the meaning of that
section) of a body corporate in the exercise of such powers as are mentioned
in paragraph (b).

(2) So much of any statutory provision of local application as limits the rate
of interest at which a harbour authority may borrow money shall cease to have
effect.

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Northern Irish Legislation

HARBOURS ACT (NORTHERN IRELAND) 1970 - SECT 31