Section 2 The loan under the 1967 Act.

United Kingdom

(1)

All outstanding liabilities in respect of the loan made by the Shipbuilding Industry Board to Upper Clyde Shipbuilders Limited under section 4 of the M1Shipbuilding Industry Act 1967 are hereby extinguished.

(2)

The assets of the National Loans Fund shall accordingly be reduced by £2,169,106. 99 in respect of the principal outstanding and £120,671.19 in respect of the interest outstanding.

Annotations

Marginal citations

M1: 1967 c. 40.

Notes on the whole Act

Textual amendments

F1: Act repealed (5.11.1993 except for s. 1 and 1.4.1996 otherwise) by 1993 c. 50, s. 1(1), Sch. 1 Pt. IX Group 1; S.I. 1996/509, art. 2