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PART IX.
Contracts and Tenders.
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Contracts.
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142.—(1) A harbour authority may enter into any contract which they think proper in connection with any of the following matters:
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(a) the administration of their harbour,
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(b) the carrying out of any harbour works order,
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(c) the dredging of any harbour and the approaches thereto,
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(d) the discharge of any of the functions given to the harbour authority by or under this Act.
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(2) The following provisions shall have effect in relation to a contract made by a harbour authority in respect of the carrying out of any constructional or building work whether pursuant to a harbour works order or otherwise or in respect of dredging:
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(a) where the consideration for the contract exceeds fifty pounds, the contract shall be in writing and sealed with the common seal of the harbour authority;
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(b) the contract shall specify—
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(i) the consideration therefor,
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(ii) the time or times within which the contract is to be performed, and
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(iii) a pecuniary penalty to be paid in case the terms of the contract are not duly performed.
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(3) A harbour authority may compound for any sum they think proper, with any person who is a party to a contract made by them, in respect of any penalty incurred either by such harbour authority or such person by reason of the non-performance of the contract or any term thereof, whether the penalty is due under the contract or under any bond or other security.
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