LegalizeReform history
Export and Investment Guarantees Act 1991
8 versions
· 1991-10-22
2024-12-30
Export and Investment Guarantees Act 1991
2024-12-26
Export and Investment Guarantees Act 1991
2024-12-25
Export and Investment Guarantees Act 1991
2015-05-26
Export and Investment Guarantees Act 1991
2009-05-21
Export and Investment Guarantees Act 1991
2006-04-06
Export and Investment Guarantees Act 1991
2004-07-22
Export and Investment Guarantees Act 1991
Changes on 2004-07-22
@@ -56,7 +56,7 @@
- (5) Arrangements under this section may be made in anticipation of further rights being acquired or liabilities being incurred by the Secretary of State.
- (6) In this section the “ECGD portfolio” means the rights and liabilities to which the Secretary of State is entitled or subject by virtue of the exercise of his powers under this Act or the old law or in consequence of arrangements made in the exercise of those powers.
- (6) In this section the “*ECGD portfolio*” means the rights and liabilities to which the Secretary of State is entitled or subject by virtue of the exercise of his powers under this Act or the old law or in consequence of arrangements made in the exercise of those powers.
- (7) The Secretary of State may certify that any transaction he has entered into or is entering into has been or, as the case may be, is entered into in the exercise of the powers conferred by this section and such a certificate shall be conclusive evidence of the matters stated in it.
@@ -70,9 +70,9 @@
- (3) In those sections—
- (a) “business” includes a profession,
- (b) “guarantee” includes indemnity,
- (a) “*business*” includes a profession,
- (b) “*guarantee*” includes indemnity,
- (c) references to persons carrying on business, in relation to things done outside the United Kingdom, include persons carrying on any other activities, and
@@ -104,9 +104,9 @@
- (a) in the case of commitments in sterling, £35,000 million, and
- (b) in the case of commitments in foreign currency, 15,000 million special drawing rights.
- (2) In subsection (1) above, “arrangements relating to exports and insurance” means—
- (b) in the case of commitments in foreign currency, 30, 000 million special drawing rights.
- (2) In subsection (1) above, “*arrangements relating to exports and insurance*” means—
- (a) arrangements under section 1 or 2 of this Act, other than arrangements for giving grants or arrangements under section 1(3), and
@@ -132,7 +132,7 @@
- (b) the amount of any commitments shall be ascertained in accordance with principles determined from time to time by the Secretary of State with the consent of the Treasury,
- (c) “foreign currency” means any currency other than sterling, including special drawing rights and any other units of account defined by reference to more than one currency,
- (c) “*foreign currency*” means any currency other than sterling, including special drawing rights and any other units of account defined by reference to more than one currency,
- (d) whether any commitments are in sterling or foreign currency is to be determined by reference to the currency in which the amount of the commitments is measured (rather than the currency of payment) but, if the commitments are expressed to be subject to a sterling or foreign currency limit, the commitments are to be taken to be in sterling or, as the case may be, foreign currency, and
@@ -156,7 +156,7 @@
- (3) Any return under this section may also give such further information as to the amounts of his commitments for the purposes of those limits as the Secretary of State may determine for that return.
- (4) The first return under this section shall be prepared as soon as practicable after 31st March 1991.
- (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- (5) Reports and returns prepared under this section shall be laid before Parliament.
@@ -204,7 +204,7 @@
##### 10
- (1) In this section “vehicle company” means a company formed or acquired for the purpose of—
- (1) In this section “*vehicle company*” means a company formed or acquired for the purpose of—
- (a) becoming a transferee, or
@@ -232,7 +232,7 @@
- (a) shares are held by or on behalf of the Crown where the Crown or any person acting on behalf of the Crown has a legal interest in them; and
- (b) “relevant shares”, in relation to a vehicle company, means the issued shares of that company or, if it is a subsidiary of another vehicle company, the issued shares of that other company.
- (b) “*relevant shares*”, in relation to a vehicle company, means the issued shares of that company or, if it is a subsidiary of another vehicle company, the issued shares of that other company.
- (6) A scheme under section 8 of this Act may, as between any vehicle companies or as between a vehicle company and the Secretary of State, confer or impose rights and liabilities in connection with any of the matters as to which the Secretary of State may exercise his powers under this Act.
@@ -286,7 +286,7 @@
- (1) This Act may be cited as the Export and Investment Guarantees Act 1991.
- (2) In this Act “the old law” means the Export Guarantees and Overseas Investment Act 1978 and any earlier enactment from which any provision of that Act was derived.
- (2) In this Act “*the old law*” means the Export Guarantees and Overseas Investment Act 1978 and any earlier enactment from which any provision of that Act was derived.
- (3) Any power to make an order under section 5 or 6 of this Act shall be exercisable by statutory instrument and no such order shall be made unless a draft of it has been laid before and approved by resolution of the House of Commons.
@@ -294,7 +294,7 @@
- (5) Subsection (4) above does not affect any power exercisable by the Secretary of State in respect of arrangements made under the old law.
- (6) This Act shall come into force on such day as the Secretary of State may by order made by statutory instrument appoint and different days may be appointed for different provisions and for different purposes.
- (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
## SCHEDULE
@@ -391,9 +391,3 @@
[^key-11959a63aa27802462d5e9ae5ec542e3]: [S. 7(4)](https://www.legislation.gov.uk/ukpga/1991/67/section/7/4) repealed (22.7.2004) by [Statute Law (Repeals) Act 2004 (c. 14)](https://www.legislation.gov.uk/ukpga/2004/14), [Sch. 1 Pt. 16](https://www.legislation.gov.uk/ukpga/2004/14/schedule/1/part/16) Group 2
[^key-dc9382272912344854c783d71640adf2]: [S. 15(6)](https://www.legislation.gov.uk/ukpga/1991/67/section/15/6) repealed (22.7.2004) by [Statute Law (Repeals) Act 2004 (c. 14)](https://www.legislation.gov.uk/ukpga/2004/14), [Sch. 1 Pt. 16](https://www.legislation.gov.uk/ukpga/2004/14/schedule/1/part/16) Group 2
#### Insurance in connection with overseas investment.
#### Scheme of transfer.
#### The Export Credits Guarantee Department and the Export Guarantees Advisory Council.
1991-10-22
Export and Investment Guarantees Act 1991
original version
Text at this date