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MERCHANT SHIPPING ACT 1894 - SECT 663

Estimates or accounts of expenses sent to Board of Trade.

663.(1) The Public Works Loan Commissioners may, for the purpose of the
construction and repair of lighthouses or other extraordinary expenses
connected with the service of lighthouses, buoys, and beacons, advance money
upon mortgage of the [General Lighthouse Fund], and the several dues, rates,
fees, and payments to be carried thereto under this Act, or any of them, or
any part thereof, without requiring any further security than that mortgage.

(2) Notwithstanding anything in this Act, every mortgage so made to the Public
Works Loan Commissioners shall be made in accordance with the Acts regulating
loans by the Public Works Loan Commissioners.

(3) An advance by the Public Works Loan Commissioners shall not prevent any
lawful reduction of any dues, rates, fees, or other payments payable to the
[General Lighthouse Fund] if that reduction is assented to by the Public Works
Loan Commissioners.

© 1894 Crown Copyright

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