Harbours Act, 1996

Provision with respect to superannuation schemes under Act of 1946.

95.—(1) Where the Minister is satisfied, after consultation with the harbour authority and the trustees (if any) concerned, that as respects a superannuation scheme made by a harbour authority under section 151 of the Act of 1946—

(a) the fund (if any) established in respect of the scheme does not comprise sufficient moneys as will enable the payment therefrom of superannuation benefits under the scheme that fall due for payment within the period of 12 months following any particular date, and

(b) the said harbour authority do not have resources from which there could be paid the said benefits,

then the Minister may, with the consent of the Minister for Finance, make available to the said harbour authority or, as the case may be, the trustees of a fund aforesaid, such amount of moneys (whether by way of grants or loans) as he or she may determine for the purpose of enabling the payment of the said benefits.

(2) No moneys shall be made available under subsection (1) more than 5 years after the commencement of this section.

(3) All money from time to time required by the Minister to meet sums which may become payable by him or her under this section shall be advanced out of the Central Fund or the growing produce thereof.