Article 15 Port of Truro Reserve FundI1

England and Wales

(1)

The Council may establish and maintain a Port of Truro Reserve Fund and carry to it the Existing Port of Truro Reserve.

(2)

Any reserve fund established or maintained under this article must be applied by the Council in its discretion—

(a)

in or towards payment of the cost of renewing, improving, extending or replacing any part of the works forming part of the Port of Truro or any vessels, plant or equipment of the Council connected to the Port of Truro;

(b)

for improving the operational area and the navigation of the Port of Truro and the approaches to the Port of Truro;

(c)

for any other lawful purpose sanctioned by the Council and connected with the Port of Truro.

Annotations

Commencement

I1: Art. 15 in force at 14.7.2023, see art. 1(1)