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Industry Act 1979

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1 Increase in limits on loans, etc. , to National Enterprise Board, Scottish Development Agency and Welsh Development Agency. U.K.

(1)The following enactments, that is to say, F1. . . section 13 of the M1Scottish Development Agency Act 1975 and section 18 of the M2Welsh Development Agency Act 1975 (limits on loans made and capital made available to F1. . . the Scottish Development Agency and the Welsh Development Agency and their wholly owned subsidiaries, and guarantees by, and in respect of loans to, F1. . . those Agencies and any such subsidiary of the Scottish Development Agency) shall be amended in accordance with the following provisions of this section.

(2)—(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2

(5)In sections F1. . . 13 and 18, for the words “wholly owned subsidiaries” and “wholly owned subsidiary”, wherever occurring, there shall be substituted the words “ subsidiaries ” and “ subsidiary ” respectively.

(6)In sections F1. . .13(5)(b) and 18(5)(b) (which bring within the relevant limit sums borrowed by a subsidiary of F1. . . either of the Agencies only when it was such a subsidiary) for the words “when it was such a subsidiary” there shall be substituted the words “ (whether or not it was such a subsidiary at the time any such sum was borrowed) ”.

(7)In accordance with the foregoing provisions of this section sections F1. . . 13 and 18 shall have effect as set out in the Schedule to this Act.

Textual Amendments

F1Words and figures in s. 1(1)(5)(6)(7) repealed (6.1.1992.) by British Technology Group Act 1991 (c. 66, SIF 64), s. 17(2), Schedule 2 PartI; S.I. 1991/2721, art.2

Modifications etc. (not altering text)

C1The text of s. 1 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

Marginal Citations

2 Short title, etc.U.K.

(1)This Act may be cited as the Industry Act 1979.

(2)M3The National Enterprise Board (Financial Limit) Order 1978 is hereby revoked.

Modifications etc. (not altering text)

C2The text of ss. 1, 2(2) and the Schedule is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

Marginal Citations

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