TNAG-0098-FCO40-134-Construction-of-a-Cross-Harbour-Tunnel-1968 — Page 33

Temporary power to make good deficit of Acquisition of Guaranteed Securities Fund.

Short title, citation and repeal.

CH. 23

Export Guarantees Act, 1957 5 & 6 ELIZ. 2

(3) Any amount paid by the Board of Trade for a security acquired by them under the said section three shall, while the security is held by them, be deemed for the purposes of section one, or as the case may be, section two of the said Act of 1949, to be included in the aggregate amount limited by that section; and the aggregate required to be shown by paragraph (b) of section five of that Act in any return published under that para- graph shall include the aggregate of the amounts paid by the Board of Trade since the date of the last previous return under that paragraph for securities created in pursuance of arrange- ments made in accordance with this section.

3.-(1) If in any financial year ending before the first day of April, nineteen hundred and sixty, the sums payable out of the Acquisition of Guaranteed Securities Fund into the Exchequer under section three of the Export Guarantees Act, 1949, being such sums as are mentioned in paragraph (a) of the next following subsection, exceed the sums payable under that section into the Fund, being such sums as are mentioned in paragraph (b) of that subsection, the Treasury may out of moneys provided by Parliament pay into the Fund an amount equal to the difference.

(2) The said sums are-

(a) interest on sums paid into the Fund under subsection (2) of the said section three for enabling the Board of Trade to acquire securities created in pursuance of arrangements made by them before the first day of April, nineteen hundred and fifty-six under section two of the said Act of 1949; and

(b) interest collected by the Board of Trade on such securities.

4.—(1) This Act may be cited as the Export Guarantees Act, 1957; and the Export Guarantees Acts, 1949 to 1952 and this Act may be cited together as the Export Guarantees Acts, 1949 to 1957.

(2) Subsection (2) of section one of the Export Guarantees Act, 1952, is hereby repealed.

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