Section 11 Reduction of indebtedness of National Dock Labour Board.

The National Dock Labour Board shall not be liable to repay £238 million of the money borrowed by them from the Secretary of State and forming part of the Consolidated Loan of 1st April 1982.

The amount mentioned in subsection (1) above (which was used for financing severance payments to registered dock workers in the M1ports of London and Liverpool in 1981) shall be taken into account for the purposes of subsection (3) of section 1 of the Ports (Financial Assistance) Act 1981 (overall limit on financial assistance for those ports) as if it were a grant made under subsection (1) of that section and not repaid.