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Article 6 Dealings between the relevant Authority and an Executive

Original text. Later amendments are not shown.

(1)

Where a Passenger Transport Authority becomes the lessee under a lease in respect of which the lessor is the Executive in relation to which it is the relevant Authority, or enters into a contract the other party to which is that Executive, the lease or contract, and any variation of such a lease or contract, shall not be treated as a credit arrangement or the variation of such an arrangement for the purposes of Part IV of the Act.

(2)

Where the relevant Authority receives from an Executive a sum, or any consideration which is not in money or is paid otherwise than to the Authority,—

(a)

the sum shall not be treated as a capital receipt for the purposes of Part IV of the Act; and

(b)

section 61 of the Act shall not apply to the consideration.