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Sea Fisheries Fund to be expended for piers and harbours.
29 & 30 Vict. c. 45.
9 & 10 Vict. c. 3.
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5. The Commissioners of Public Works shall apply the Sea Fisheries Fund for the purposes of the Fishery Piers and Harbours Acts, but subject to the conditions contained in this Act.
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The enactment contained in the second section of the Fishery Piers and Harbours Act, 1866, that a grant for any one work shall not exceed the sum of seven thousand five hundred pounds shall not apply to grants under this Act.
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The enactment contained in the fourth sub-section of the fourth section of the Fishery Piers and Harbours Act, 1846, that the amount of any grant shall not exceed three-fourths of the cost of the work, and that such grant shall be made only upon the condition that the repayment of the residue of the total actual cost of the work, with interest, shall be secured or agreed to be secured in the manner therein referred to, shall not apply to grants under this Act.
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The Commissioners of Public Works may, with the previous approval of the Treasury, out of the Sea Fisheries Fund make a free grant of the whole or any part of the cost of a work, or may advance the same by way of loan, upon the repayment thereof, with interest at such rate not exceeding three and a half per cent. per annum, as the Commissioners, with the approval of the Treasury, may determine, being secured in the manner provided by the Fishery Piers and Harbours Acts.
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The amount which the Commissioners of Public Works may expend in any one period of twelve months after the passing of this Act, in carrying this Act into effect, shall not exceed fifty thousand pounds, unless the Treasury otherwise orders.
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