5 & 6 ELIZ. 2
Export Guarantees Act, 1957
CH. 23
OH
SE
MON
DROTT
CHAPTER 23
An Act to amend the Export Guarantees Acts, 1949
to 1952.
B
[6th June, 1957]
E it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:-
1. In subsection (2) of section two of the Export Guarantees Raising of Act, 1949 (which, as amended by the Export Guarantees Act, limit on 1952, imposes a limit of one hundred and fifty million pounds under s. 2 guarantees in respect of guarantees given by the Board of Trade under that of Export section) for the words " one hundred and fifty million pounds Guarantees there shall be substituted the words two hundred and fifty Act, 1949. million pounds ".
66
12, 13 & 14 Geo. 6. c. 14. 15 & 16 Geo. 6. & 1 Eliz. 2. c. 21.
Board of
2.-(1) In so far as the power of the Board of Trade under Extension section two of the Export Guarantees Act, 1949, to make arrange- of power of ments for giving guarantees to or for the benefit of persons Trade to make carrying on business in the United Kingdom or to or for the arrangements benefit of companies directly or indirectly controlled by such for rendering" persons is exercisable for the purpose of rendering economic economic assistance to countries outside the United Kingdom it shall assistance to include, and be deemed always to have included, power to make outside U.K. arrangements for facilitating the payment of sums payable under contracts with such persons or companies.
(2) Section three of the said Act of 1949 (which provides for the acquisition by the Board of Trade of securities guaranteed by them in the exercise of their powers under that Act) shall have effect, and be deemed always to have had effect, as if the references to such securities included references to securities created in pursuance of arrangements made in accordance with this section.
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countries