Statutory Instruments
INDUSTRIAL DEVELOPMENT
Made
14th October 1987
Laid before Parliament
21st October 1987
Coming into force
11th November 1987
The Secretary of State, being a Minister designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to the provision of guarantees, grants and loans in respect of the financing of the construction of ships and mobile offshore installations and their equipment, in exercise of the powers conferred on him by that section and of all his other enabling powers, hereby makes the following Regulations: —
1. These Regulations may be cited as the Industry Act 1972 (Amendment) Regulations 1987 and shall come into force on 11th November 1987.
2. Section 10(1) of the Industry Act 1972(3) is hereby amended by the substitution for the words “in the United Kingdom” of the words “in any member State”.
Robert Atkins
Parliamentary Under Secretary of State,
Department of Trade and Industry
14th October 1987
(This note is not part of the Regulations)
These Regulations amend section 10(1) of the Industry Act 1972, which provides for guarantees of payments in connection with the financing of orders for the construction of ships and mobile offshore installations and their equipment. The Regulations provide that the guarantees can be made in connection with the construction in any member State of the European Communities instead of in the United Kingdom only.