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An Act to increase financial limits which apply in connection with the National Enterprise Board, the Scottish Development Agency, the Welsh Development Agency and the Development Board for Rural Wales; to reduce the public dividend capital of the National Enterprise Board and of the two Agencies and the amount outstanding by way of loans made by the Secretary of State to the two Agencies; to provide for extending the period in relation to which schemes under the Shipbuilding (Redundancy Payments) Act 1978 operate; and to provide for financial support in connection with certain matters affecting industry.
[19th March 1981]
I1Act partly in force at Royal Assent; Act wholly in force at 31st March 1981 see s. 7(2).
F1S. 1 repealed (6. 1. 1992) by British Technology Group Act 1991 (c. 66, SIF 64), s. 17(2), Sch. 2, Pt.I; S.I. 1991/2721, art.2
[F1(1)In section 13(3) of the M1 Scottish Development Agency Act 1975 (financial limit for the Agency) for the words “£500 million” (which were substituted by section 1(3) of the M2 Industry Act 1979) there are substituted the words “£700”.]
F2(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)F4. . .subsections (3) and (4) of section 1 of the Act of 1979 are hereby repealed.
F1S. 2(1) repealed (1.4.1991) (E.W.S.) by Enterprise and New Towns (Scotland) Act 1990 (c. 35, SIF 64), s. 38(2), Sch. 5 Pt. I
F2S. 2(2) repealed (19.12.1991) by Welsh Development Agency Act 1991 (c. 69, SIF 64), s. 2(2).
F3S. 2(3) repealed (12.2.1991) by Development Board for Rural Wales Act 1991 (c. 1, SIF 64), s. 1
F4Words in s. 2(4) repealed (1.10.1998) by 1998 c. 38, s. 152, Sch. 8 Pt. IV (with ss. 137(1), 139(2), 143(2)); S.I. 1998/2244, art. 4.
C1The text of s. 2(1) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals made prior to 1.2.1991.
M11975 c. 69.
M21979 c. 32.
(1)The public dividend capital of the National Enterprise Board is hereby reduced by £32·4 million [F1, that of the Scottish Development Agency by £7 million] and that of the Welsh Development Agency by £2·9 million.
(2)“Public dividend capital” means the amount of the capital which, immediately before the commencement of this section, was outstanding—
(a)in the case of the Board, in respect of payments to the Board under paragraph 5 of Schedule 2 to the Industry Act 1975 (including sums treated as additions to that capital by paragraph 5(2));
[F2(b)in the case of the Scottish Development Agency, in respect of payments to the Agency under paragraph 1 of Schedule 2 to the M1Scottish Development Agency Act 1975 (including sums treated as additions to that capital by paragraph 1(2)); and]
(c)in the case of the Welsh Development Agency, in respect of payments to the Agency under paragraph 1 of Schedule 3 to the M2Welsh Development Agency Act 1975 (including sums treated as additions to that capital by paragraph 1(2)).
F1Words repealed (1.4.1991) (E.W.S.) by Enterprise and New Towns (Scotland) Act 1990 (c. 35, SIF 64), s. 38(2), Sch. 5 Pt. I
F2S. 3(2)(b) repealed (1.4.1991) (E.W.S.) by Enterprise and New Towns (Scotland) Act 1990 (c. 35, SIF 64), s. 38(2), Sch. 5 Pt. I
M11975 c. 69.
M21975 c. 70.
(1)The government loan debt of the Scottish development Agency is hereby reduced by £2 million and that of the Welsh Development Agency by £1 million; and any entitlement of the Secretary of State and any liability of either of the Agencies in respect of government loan debt is correspondingly reduced.
(2)“Government loan debt” means the aggregate amount of the principal and interest which, immediately before the commencement of this section, was outstanding—
[F1(a)in the case of the Scottish Development Agency, in respect of sums advanced to the Agency by the Secretary of State under paragraph 4(1) of Schedule 2 to the Scottish Development Agency Act 1975; and]
(b)in the case of the Welsh Development Agency, in respect of sums advanced to the Agency by the Secretary of State under paragraph 4(1) of Schedule 3 to the Welsh Development Agency Act 1975.
(3)The sum mentioned in subsection (1) above shall in each case be treated as reducing first arrears of interest (if any) and then, as respects the balance remaining, principal outstanding.
(4)The assets of the National Loans Fund shall be reduced by the aggregate amount by which the liabilities of the Agencies are extinguished by this section.
F1S. 4(2)(a) repealed (1.4.1991) (E.W.S.) by Enterprise and New Towns (Scotland) Act 1990 (c. 35, SIF 64), s. 38(2), Sch. 5 Pt. I
C1S. 4(1) in so far as relating to the Scottish Development Agency repealed (1.4.1991) (E.W.S.) by Enterprise and New Towns (Scotland) Act 1990 (c. 35, SIF 64), s. 38(2), Sch. 5 Pt. I
F1S. 6 repealed by Industrial Development Act 1982 (c. 52, SIF 64), s. 19(1)(2), Sch. 2 Pt. I, Sch. 3
(1)This Act may be cited as the Industry Act 1981.
(2)Section 1 of this Act comes into force on 31st March 1981.
(3)The Acts and instruments specified in the Schedule to this Act are repealed to the extent set out in the third column of that Schedule.
[F1(4)The provisions of this Act, so far as they relate to the Scottish Development Agency, extend to Scotland only.]
(5)Subject to subsection (4) above, the provisions of this Act, except so far as they relate to the Welsh Development Agency F2. . ., extend to Northern Ireland.
F1S. 7(4) repealed (1.4.1991) (E.W.S.) by Enterprise and New Towns (Scotland) Act 1990 (c. 35, SIF 64), s. 38(2), Sch. 5 Pt. I
F2Words in s. 7(5) repealed (1.10.1998) by 1998 c. 38, s. 152, Sch. 18 Pt. IV (with ss. 137(1), 139(2), 143(2)); S.I. 1998/2244, art. 4.
C1The text of s. 7(3) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals made prior to 1.2.1991.
Industry Act 1981