Transport Finances Act 1966
| Jurisdiction | UK Non-devolved |
| Citation | 1966 c. 17 |
Transport FinancesAct 1966
1966 CHAPTER 17
An Act to make further provision for the payment of grants to the British Railways Board and the British Waterways Board on account of deficits on revenue account down to the end of the year 1968; to authorise the payment of such grants to the London Transport Board; to continue the temporary suspension under section 64 of the Transport Act 1962 of the liability of the British Waterways Board to maintain inland waterways; and for purposes connected with the matters aforesaid.
[26th May 1966]
Be 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 Finances of Railways Board, Waterways Board and London Board.
(1) In section 22 and section 23 of the Transport Act 1962 (which enable the Minister to make grants to the Railways Board and the British Waterways Board to meet any deficit on revenue account arising during the period of five years beginning with the vesting date and contain other special provisions for the finances of those Boards during that period) for the words ‘five years’, wherever those words occur, there shall be substituted the words ‘six years’.
(2) In subsection (3) of the said section 22 (which limits the aggregate amount of grants and loans to the Railways Board to meet deficits on revenue account) for the words ‘four hundred and fifty million pounds’ there shall be substituted the words ‘eight hundred million pounds’.
(3) The said section 22, as amended by this Act, shall apply to the London Board as it applies to the Railways Board except that in the case of the London Board the aggregate limit imposed by subsection (3) of that section shall be sixteen million pounds; and accordingly in subsection (4) of section 45 of the said Act (which refers to the said section 22 in defining the financial duty of the Railways Board) the words ‘in the case of the Railways Board’ are hereby repealed.
2 Maintenance of inland waterways.
2. In section 64 of the Transport Act 1962(temporary suspension of liability to maintain inland waterways) for any reference to the end of the year nineteen hundred and sixty-seven there shall be substituted a reference to the end of the year nineteen hundred and sixty-eight.
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