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Advances by Treasury for lighthouse expenses.
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661.[2]
—(1) For the purpose of the construction and repair of lighthouses, and of other extraordinary expenses connected with lighthouses, buoys, and beacons, the Treasury may, upon the application of the Board of Trade, advance out of the growing produce of the Consolidated Fund such sums, and upon such terms and at such rate of interest, as they think fit, and pay the same into the [1]
Mercantile Marine Fund, but the total amount due in respect of any such advances shall not at any one time exceed two hundred thousand pounds.
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(2) Where the Treasury advance any sum under this section, thatsum and the interest thereon shall be a charge upon the [1]
Mercantile Marine Fund, and upon any dues, rates, fees, or other payments payable thereto, and the Board of Trade shall make such provision for the repayment thereof out of that fund either by way of sinking fund or otherwise as the Treasury require.
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(3) A charge under this section for the purpose of an advance by the Treasury shall not prevent the reduction of any dues, rates, fees, or other payments payable to the [1]
Mercantile Marine Fund, if the reduction is sanctioned by the Treasury.
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[2 Extended to colonial lights, by 61 & 62 Vict. c. 44. s. 2 (4).]
[1 Now the General Lighthouse Fund; see 61 & 62 Vict. c. 44. s. 1 (1) (c).]
[1 Now the General Lighthouse Fund; see 61 & 62 Vict. c. 44. s. 1 (1) (c).]
[1 Now the General Lighthouse Fund; see 61 & 62 Vict. c. 44. s. 1 (1) (c).] |
