Section 37 Power of harbour authorities to acquire a harbour business or shares in a harbour business.C1

England, Wales and Scotland

C2(1)

Subject to the provisions of this section, a harbour authority, not being one of the Boards, may acquire by agreement any business or undertaking which consists wholly or mainly of the carrying out of F1activities relating to harbours or of the provision, maintenance or operation of any such depot as is mentioned in the last foregoing section, or so much of any business or undertaking as consists of the carrying out of activities relating to harbours or of the provision, maintenance or operation of any such depot.

(2)

Subject as aforesaid, a harbour authority, not being one of the Boards, may subscribe for or acquire any securities of a body corporate which is wholly or mainly engaged or which it is proposed should become wholly or mainly engaged in carrying out F2activities relating to harbours or in providing, maintaining or operating any such depot.

F3(2A)

Nothing in subsection (2) above shall be construed as authorising a harbour authority to delegate to another body any function that it could not delegate apart from that subsection.

F4(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

In this section “securities”, in relation to a body corporate, means any shares, stock, debentures, debenture stock, and any other security of a like nature, of the body corporate.

Annotations

Textual amendments

F1: Words in s. 37(1) substituted (15.7.1992) by Transport and Works Act 1992 (c. 42), s. 63(2)(a); S.I. 1992/1347, art. 2, Sch. (subject to art. 3)
F2: Words in s. 37(2) substituted (15.7.1992) by Transport and Works Act 1992 (c. 42), s. 63(2)(b); S.I. 1992/1347, art. 2, Sch. (subject to art. 3)
F3: S. 37(2A) inserted (15.7.1992) by Transport and Works Act 1992 (c. 42), s. 63(2)(c); S.I. 1992/1347, art. 2, Sch. (subject to art. 3)
F4: S. 37(3) repealed (15.7.1992) by Transport and Works Act 1992 (c. 42), ss. 63(2)(d), 68(1), Sch. 4 Pt. II; S.I. 1992/1347, art. 2, Sch. (subject to art. 3)

Modifications

C1: Ss. 37, 39 extended by Transport Act 1981 (c. 56, SIF 126), s. 14(1), Sch. 4 Pt. I para. 1(2)(c)
C2: S. 37(1) applied (S.) (1.1.2000) S.S.I. 1999/200, art. 7(1)