British Shipbuilders (Borrowing Powers) Act 1987 (repealed)

Limit on borrowing etc. of British Shipbuilders.

1

• (1) Section 11(7) of the Aircraft and Shipbuilding Industries Act 1977 (which imposes an overall limit, increased from £1300 million to £1400 million by the British Shipbuilders Borrowing Powers (Increase of Limit) Order 1986, on certain sums borrowed by British Shipbuilders and its wholly owned subsidiaries and on its public dividend capital) shall be amended as follows—

• (a) for “£1300 million” there shall be substituted “£1550 million”;

• (b) for “£100 million” (the maximum by which that limit may be increased or further increased by order) there shall be substituted “£150 million”; and

• (c) for “£1400 million” (the maximum to which that limit may be increased by order) there shall be substituted “£1800 million”.

• (2) The British Shipbuilders (Borrowing Powers) Act 1986 is hereby repealed and the British Shipbuilders Borrowing Powers (Increase of Limit) Order 1986 is hereby revoked.

Short title and extent.

2

• (1) This Act may be cited as the British Shipbuilders (Borrowing Powers) Act 1987.

• (2) This Act extends to Northern Ireland.

Limit on borrowing etc. of British Shipbuilders.

Short title and extent.

Editorial notes

[^c786826]: Act wholly in force at Royal Assent

[^c786827]: 1977 c. 3.

[^key-a3d9675acc0f1c26d314cea5d77c9ef8]: S. 1(2) repealed (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), Sch. 1 Pt. 16 Group 1