CH. 14
Export Guarantees Act, 1949
12 & 13 G50.6
General
expenses and receipts.
Returns.
Exercise of powers of Board by
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Export Credits Guarantee
Department.
(8) In this section the expression “securities" includes bonds, stock, shares, bills and promissory notes; and references in this section to the acquisition of securities under sub- section (1) thereof and to securities so acquired shall, except where the context otherwise requires, be construed as including references to the acquisition of securities under section three of the Overseas Trade Guarantees Act, 1939, and to securities acquired under that section.
4.-(1) Save as expressly provided by the last foregoing section, all expenses incurred by the Board of Trade under this Act or the repealed enactments shall be defrayed out of moneys provided by Parliament, but in the event of any amount required for fulfilling any guarantee given under any of the said enactments not being paid out of such moneys, it shall be charged on and issued out of the Consolidated Fund.
(2) Save as aforesaid, all sums received by the Board of Trade in connection with any guarantee given under any of the said enactments or in connection with any credit granted under any of the enactments repealed by the Export Guarantees Act, 1937, shall be paid into the Exchequer.
5. The Board of Trade shall publish quarterly-
(a) a return showing, in the case of the first return under this paragraph, the aggregate amount of the guarantees given under section one of this Act, section one of the Export Guarantees Act, 1939, and section two of the Export Guarantees Act, 1945, since the date of the last return published under section three of the said Act of 1939, and, in the case of a subsequent return under this paragraph, the aggregate amount of the guarantees given under section one of this Act since the date of the last previous return under this paragraph;
(b) a return showing, in the case of the first return under this paragraph, the aggregate amount of the guarantees given under section two of this Act and under the Overseas Trade Guarantees Act, 1939, since the date of the last return published under section two of that Act, and, in the case of a subsequent return under this paragraph, the aggregate amount of the guarantees given under section two of this Act since the date of the last previous return under this paragraph.
6. The Export Credits Guarantee Department shall be a separate Department of the Board of Trade under the Secretary for Overseas Trade, and all powers and duties of the Board exercisable under this Act, or exercisable after the passing of this Act in relation to things done under the repealed enactments, shall, subject to the directions of the Board, be exercised and performed through the Secretary for Overseas Trade.
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