Section 14 Application of revenue.C1
Scotland
The revenue received from dues or otherwise in respect of a marine work to which this Part of this Act applies shall in the first instance be applied for the purposes and in the order following:—
In paying the expense properly chargeable to revenue of the maintenance, repair and management of the marine work:
In paying the interest charges in respect of money borrowed for the purposes of the marine work:
In paying the appropriations, instalments, or sinking fund charges in respect of money borrowed for the purpose of the marine work:
In paying sums into any such reserve fund, and subject to such conditions as may be approved by the F1Secretary of State for Scotland:
Provided that in the case of a marine work constructed in pursuance of a provisional order made on an application under section four of this Act or authorised by or under section seven of this Act, the expenses incurred in obtaining such provisional order or authorisation shall be paid in priority to any other expenses, so far as the expenses so incurred are not paid out of moneys borrowed in pursuance of this Act.
Annotations
Textual amendments
- F1
Words substituted by virtue of S.I. 1970/1537, art. 6 Sch. 2 para. 2
Modifications
Notes on Part III
Modifications
- C1
Power to extend Part III conferred by Local Government (Scotland) Act 1973 (c. 65), s. 154(4)