Transport Act, 1985

Guarantees in respect of certain moneys payable by Board.

4.—The following is substituted for section 2 (2) of the State Guarantees (Transport) Act, 1962 (inserted by the Act of 1983):

“(2) The Minister shall not so exercise the powers conferred by subsection (1) of this section or by section 4 (1) of the Transport Act, 1974 , that the amount, or the aggregate amount, of principal which he may at any one time be liable to pay pursuant to a guarantee or guarantees under this section or section 4 of the Transport Act, 1974 (or under both those sections), and for the time being in force, together with the amount of principal (if any) which he has previously paid pursuant to any such guarantees and which has not been repaid, exceeds £250,000,000.”.