TNAG-0098-FCO40-134-Construction-of-a-Cross-Harbour-Tunnel-1968 — Page 35

12 & 13 GEO. 6

Export Guarantees Act, 1949

Cz. 14

DICU

DROIT

CHAPTER 14

An Act to make further provision with respect to the powers of the Board of Trade, to give guarantees in connection with overseas transactions; and for purposes connected with the matters aforesaid.

BE

[9th March 1949.1

E it enacted by the King'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. (1) For the purpose of encouraging trade with places Export outside the United Kingdom, the Board of Trade after consult- guarantees. ation with the Advisory Council may with the consent of the Treasury make arrangements for giving guarantees to, or for the benefit of, persons carrying on business in the United Kingdom, being guarantees in connection with the export, manufacture, treatment or distribution of goods, the rendering of services, or any other matter which appears to the Board of Trade conducive to the said purpose.

"

(2) In this section the expression "trade with places outside the United Kingdom includes any transaction involving a consideration in money or money's worth accruing from a person carrying on business or other activities outside the United Kingdom to a person carrying on business in the United Kingdom.

(3) The Export Guarantees Advisory Council constituted for the purposes of the Export Guarantees Act, 1939, shall be continued by the Board of Trade for the purposes of this Act, and in subsection (1) of this section the expression "Advisory Council" means the said Council.