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The Port of Tyne Harbour Revision Order 2008

Type Statutory-Instrument

Publication 2008-07-08

State In force

Department King's Printer of Acts of Parliament

Source legislation.gov.uk

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articles 2

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Made: 8th July 2008

Coming into force: 14th July 2008

The Secretary of State in exercise of the powers conferred by that section and now vested in her³ makes the following Order:

Citation and commencement

1

(1) This Order may be cited as the Port of Tyne Harbour Revision Order 2008 and comes into force on 14th July 2008.

(2) The Port of Tyne Reorganisation Scheme 1967 Confirmation Order 1968⁴, the Port of Tyne Act 1970⁵, the Port of Tyne Revision Order 1972⁶, the Port of Tyne Authority (Constitution) Revision Order 1974⁷, the Port of Tyne (North Shields Fish Harbour) Act 1974⁸, the Port of Tyne Revision Order 1982⁹, the Port of Tyne (Pilotage) Harbour Revision Order 1989¹⁰, the Port of Tyne Act 1989¹¹, the Port of Tyne Act 1990¹², the Port of Tyne Harbour Revision Order 1998¹³, the Port of Tyne Harbour Revision Order 2001¹⁴ and this Order may be cited together as the Port of Tyne Acts and Orders 1968 to 2008.

Borrowing powers

2

(1) The Authority (including any subsidiary of the Authority) may from time to time borrow, by any methods they see fit, such sums of money as they think necessary for the purposes of meeting their obligations in carrying out their functions; and where moneys are borrowed by the Authority under this article, the Authority may, if they see fit, borrow those moneys upon the security of some or all of their assets for the time being or of some or all of their revenues or of some or all of both their assets and their revenues.

(2) In this article “subsidiary” means a subsidiary formed under the Port of Tyne Act 1989.

Revocations

3

The following are revoked—

(a) Articles 59, 60 and 61 of the Port of Tyne Reorganisation Scheme 1967¹⁵;

(b) the Port of Tyne Revision Order 1972; and

Signed

Signed by authority of the Secretary of State for Transport

Richard Bennett — Head of Ports Division — Department for Transport — 8th July 2008

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order amends the borrowing powers of the Port of Tyne Authority (“the Authority”).

The Authority’s borrowing powers and those of their subsidiaries were capped at £5 million for permanent borrowings and £4 million for temporary borrowings unless the Secretary of State consented in either case to a higher amount.

Article 2 authorises the Authority and their subsidiaries to borrow without any limit such sums of money as they think necessary.

Article 3 revokes the earlier borrowing powers.

Footnotes

1964 c.40; section 14 was amended by the Transport Act 1981 (c. 56), section 18 and Schedule 6, paragraphs 2 to 4(1) and 14, and section 40 and Schedule 12 (Part II), and by the Transport and Works Act 1992 (c. 42), section 63(1) and Schedule 3, paragraph 1.

For the definition of “the Minister” (mentioned in section 14(7)) see section 57(1).

The Port of Tyne Reorganisation Scheme 1967 is set out in the Schedule to the Port of Tyne Reorganisation Scheme 1967 Confirmation Order 1968.

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