Industrial Credit (Amendment) Act 1974

1 Interpretation.

1.—(1) In this Act—

“the Act of 1971” means the Industrial Credit (Amendment) Act, 1971;

“the Principal Act” means the Industrial Credit Act, 1933.

(2) The Industrial Credit Acts, 1933 to 1971, and this Act shall be construed as one Act.

2 Power of the Company to raise or borrow money by means of debentures or otherwise.

2.—Paragraph 4 of the Schedule to the Principal Act is hereby amended by the substitution in subparagraph (d) (i) (inserted by section 5 (1) of the Act of 1971) of “seventy-five million pounds” for “thirty million pounds”.

3 Guarantees by the Minister.

3.—Section 3 of the Industrial Credit (Amendment) Act, 1958, is hereby amended by the substitution in subsection (3) of “£75,000,000” for “£30,000,000” (inserted by section 7 of the Act of 1971).

4 Power to alter Memorandum and Articles of Association of Company.

4.—The Company shall take such steps as may be necessary under the Companies Act, 1963, to alter the Memorandum and Articles of Association of the Company to make them consistent with the Industrial Credit Acts, 1933 to 1974.

5 Short title and collective citation.

5.—(1) This Act may be cited as the Industrial Credit (Amendment) Act, 1974.

(2) The Industrial Credit Acts, 1933 to 1971, and this Act may be cited together as the Industrial Credit Acts, 1933 to 1974.