Harbours Act, 1946


Finance and Accounts.

Application of revenue.

119.—(1) The revenue of a harbour authority in any year shall be applied to the following purposes in the following order:

(a) the payment of working and establishment expenses (including expenses in respect of any pensions and gratuities payable by the harbour authority) and of expenses properly chargeable to revenue of management, maintenance, cleaning and repair,

(b) the payment, in respect of borrowed moneys and subject to the terms on which such moneys were borrowed, of interest, of repayments of principal and of contributions to sinking funds,

(c) such other purposes (including carrying forward to the next following year) in such order as the harbour authority, with the consent of the Minister, may decide.

(2) Notwithstanding subsection (1) of this section, where the Minister, on the application of a harbour authority, is satisfied that the purchase of any particular equipment is essential to the maintenance or working of the harbour of the harbour authority, the Minister may authorise the harbour authority to pay the cost, or part of the cost, of the equipment as if such cost, or the part thereof specified in the authorisation, as the case may be, were proper to be included among the working and establishment expenses of the harbour authority.