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Industrial Development (Financial Assistance)
Bill
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EXPLANATORY NOTES
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Explanatory notes to the Bill, prepared
by the Department of Trade and Industry, are
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published separately as Bill 5—EN.
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EUROPEAN CONVENTION ON HUMAN RIGHTS
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Secretary Patricia Hewitt has made the following
statement under section 19(1)(a) of
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the Human Rights Act 1998:
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In my view the provisions of the Industrial
Development (Financial Assistance) Bill
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are compatible with the Convention rights.
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A
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Bill
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To
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amend
section 8(5) of the Industrial Development Act 1982.
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Be
it enacted by the Queen’s most Excellent Majesty, by and
with the advice and
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consent of the Lords Spiritual and
Temporal, and Commons, in this present
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Parliament assembled, and by the authority
of the same, as follows:—
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1 Increase
in limit on selective financial assistance
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For
subsection (5) of section 8 of the Industrial Development Act 1982 (c. 52)
(amount
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of
selective financial assistance) there is substituted—
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“(5) The
limit shall be £ 3,700 million, but the Secretary of State may,
on not more
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than
four occasions, by order made with the consent of the Treasury increase
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5
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or
further increase that limit by a sum specified in the order, being a sum
not
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exceeding
£ 600 million.”
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2 Short
title
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This Act may be cited as the Industrial
Development (Financial Assistance) Act
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2003.
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10
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