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British Railways Board (Finance) Act 1991

1991 c. 63 · Enacted 25 July 1991 · Extends to United Kingdom

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An Act to alter the limits under section 42(6) of the Transport Act 1968 relating to the indebtedness of the British Railways Board and the limits on the amount of compensation payable in respect of certain public service obligations of the Board.

[25th July 1991] I1

F1Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

Annotations to the whole text

Textual amendments

F1

Act repealed (prosp.) by 2000 c. 38, ss. 274, 275(1), Sch. 31 Pt. IV

Commencement

I1

Act wholly in force at Royal Assent.

Contents

  1. 1Increased borrowing limit for British Railways Board.
  2. 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  3. 3Short title.

1Increased borrowing limit for British Railways Board.

(1)

In section 42(6) of the M1Transport Act 1968 (which, as amended by section 1 of the M2Transport (Finance) Act 1982, limits the aggregate amount outstanding in respect of the principal of money borrowed by the British Railways Board and its commencing capital debt to £1,100 million or such greater sum not exceeding £1,300 million as the Secretary of State may by order specify) for the words from “shall not exceed” to “as the Minister” there shall be substituted “shall not exceed £3,000 million or such greater sum not exceeding £5,000 million as the Secretary of State”.

(2)

Section 1 of the Transport (Finance) Act 1982, which is superseded by subsection (1) above, is hereby repealed.

2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F1

3Short title.

This Act may be cited as the British Railways Board (Finance) Act 1991.