Export and Investment Guarantees Act 1991

JurisdictionUK Non-devolved
Citation1991 c. 67
Year1991
(1) The Secretary of State may make arrangements under this section which the Secretary of State considers are conducive to supporting or developing (whether directly or indirectly) supplies or potential supplies by persons carrying on business in the United Kingdom of goods, services or intangible assets (including intellectual property) to persons carrying on business outside the United Kingdom.(2) The Secretary of State may make arrangements under this section for the purpose of rendering economic assistance to countries outside the United Kingdom.the performance of obligations created or arising, directly or indirectly, in connection with matters as to which he has exercised his powers under this section or section 2 of this Act, orthe reduction or avoidance of losses arising in connection with any failure to perform such obligations.(4) The arrangements that may be made under this section are arrangements for providing financial facilities or assistance for, or for the benefit of, persons carrying on business; and the facilities or assistance may be provided in any form, including guarantees, insurance, grants or loans.(5) The arrangements that may be made under this section also include the provision of advice or information.in connection with any investment of resources by the insured in enterprises carried on outside the United Kingdom, orin connection with guarantees given by the insured in respect of any investment of resources by others in such enterprises, being enterprises in which the insured has any interest,(2) The Secretary of State may make arrangements for insuring persons providing such insurance.(3) References in subsection (1) above to a person carrying on business in the United Kingdom and to the insured include any company controlled directly or indirectly by him.(1) The Secretary of State may make any arrangements which, in his opinion, are in the interests of the proper financial management of the ECGD portfolio, or any part of it.lending, andproviding and taking out insurance and guarantees.(3) The Secretary of State may not, in pursuance of such arrangements, enter into any transaction for the purpose of borrowing money but, subject to that, he is not precluded from entering into any transaction by reason of its involving borrowing.alter any arrangements made under section 1 or 2 of this Act or the old law or make new arrangements in place of arrangements so made, ormake further arrangements in connection with arrangements so made.(5) Arrangements under this section may be made in anticipation of further rights being acquired or liabilities being incurred by the Secretary of State.(6) In this section the “ECGD portfolio” means the rights and liabilities to which the Secretary of State is entitled or subject by virtue of the exercise of his powers under this Act or the old law or in consequence of arrangements made in the exercise of those powers.(7) The Secretary of State may certify that any transaction he has entered into or is entering into has been or, as the case may be, is entered into in the exercise of the powers conferred by this section and such a certificate shall be conclusive evidence of the matters stated in it.(1) Transactions entered into in pursuance of arrangements made under sections 1 to 3 of this Act may be on such terms and conditions as the Secretary of State considers appropriate.(2) The powers of the Secretary of State under those sections are exercisable only with the consent of the Treasury and such consent may be given in relation to particular cases or in relation to such descriptions of cases as may be specified in the consent.business” includes a profession,guarantee” includes indemnity,references to persons carrying on business, in relation to things done outside the United Kingdom, include persons carrying on any other activities, andreferences to things done in or outside the United Kingdom are to things done wholly or partly in or, as the case may be, outside the United Kingdom.(4) References in this and those sections to the United Kingdom include the Isle of Man and the Channel Islands.information relating to credit or investment insurance,services ancillary to the provision by that person of credit or investment insurance, andsuch other goods or services as may be specified in an order under this section,(2) The power to make an order under this section is exercisable only with the consent of the Treasury.(1) The aggregate amount of the Secretary of State’s commitments at any time under arrangements relating to exports and insurance shall not exceed F967,700 million special drawing rightsarrangements under section 1 or 2 of this Act, other than arrangements for giving grants or arrangements under section 1(3) , andarrangements under the old law, other than arrangements for giving grants.(3) The aggregate amount of the Secretary of State’s commitments at any time under section 3 of

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