The Blyth Harbour Revision Order 2015

• Citation: S.I. 2015/1384
• Sections: 4

Section 1 Citation and commencement

(1) This Order may be cited as the Blyth Harbour Revision Order 2015 and shall come into force on 10th July 2015.

(2) The Blyth Harbour Acts and Orders 1858 to 2004, the Port of Blyth (Battleship Wharf Railway) Order 2006 and this Order may together be cited as the Blyth Harbour Acts and Orders 1858 to 2015.

Section 2 Interpretation

In this Order—

“the 1986 Act” means the Blyth Harbour Act 1986 ;

“the Commissioners” means the Blyth Harbour Commissioners;

“subsidiary” has the meaning given by section 1159(1) of the Companies Act 2006 ;

Section 3 Power to borrow

(1) The Commissioners, including any subsidiary of the Commissioners, may from time to time borrow, by any methods they see fit, such sums of money as they think necessary for the purposes of meeting their obligations in carrying out their functions .

(2) A sum of money borrowed under paragraph (1) by the Commissioners, or any subsidiary of the Commissioners, may be borrowed upon the security of some or all of—

(a) their assets for the time being;

(b) their revenues;

(c) a combination of their assets and revenues

in whatever way they think fit.

(3) The Commissioners, or a subsidiary of the Commissioners, may effect such arrangements as they think fit to mitigate against any financial risk incurred for the purpose of meeting the obligations mentioned in paragraph (1).

Section 4 Repeals

Sections 13 and 14 of the 1986 Act are repealed.