# Harbours Act (Northern Ireland) 1970, Section 31: Borrowing by harbour authorities.


(1) The purposes for which a harbour authority may borrow money under any statutory provision shall include the following:—
(a) meeting any expenses properly chargeable to capital;
(b) acquiring a business or undertaking or part of a business or undertaking in the exercise of powers conferred by section 24 or any other statutory provision;
(c) subscribing for or acquiring any securities (within the meaning of that section) of a body corporate in the exercise of such powers as are mentioned in paragraph ( b).
(2) So much of any statutory provision of local application as limits the rate of interest at which a harbour authority may borrow money shall cease to have effect.

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Source: https://www.legislation.gov.uk/apni/1970/1/section/31 (the official version)
Page: https://openlegislation.uk/harbours-act-northern-ireland-1970/section-31
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.