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MERCHANT SHIPPING ACT 1894 - SECT 662

Establishments of general lighthouse authorities.

662.(1) The Board of Trade may mortgage the [General Lighthouse Fund] and any
dues, rates, fees, or other payments payable thereto, or any part thereof, for
the purpose of the construction and repair of lighthouses or other
extraordinary expenses connected with the services of lighthouses, buoys, and
beacons.

(2) Any mortgage under this section shall be made in such form and executed in
such manner as the Board of Trade may direct.

(3) A person lending money on a mortgage under this section shall not be bound
to inquire as to the purpose for which the money is raised or the manner in
which it is applied.

© 1894 Crown Copyright

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