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Industry and Exports (Financial Support) Bill


 

Industry and Exports (Financial Support) Bill

 
 

EXPLANATORY NOTES

Explanatory notes to the Bill, prepared by the Department for Business, Enterprise

and Regulatory Reform are published separately as Bill 70—EN.

EUROPEAN CONVENTION ON HUMAN RIGHTS

Mr Pat McFadden has made the following statement under section 19(1)(a) of the

Human Rights Act 1998:

In my view the provisions of the Industry and Exports (Financial Support) Bill are

compatible with the Convention rights.

 

Bill 70                                                                                                 

54/4

 

 


 

Industry and Exports (Financial Support) Bill

 

 
 

Contents

1   

Increase in limit on selective financial assistance for industry

2   

Assistance in connection with exports of goods or services

3   

Extent, commencement and short title

 

Bill 70                                                                                                 

54/4

 
 

Industry and Exports (Financial Support) Bill

1

 

[Note: The Bill was presented under S.O. No. 50.]

A

Bill

To

amend section 8(5) of the Industrial Development Act 1982 and to amend

section 1(1) of the Export and Investment Guarantees Act 1991. 

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and

consent of the Lords Spiritual and Temporal, and Commons, in this present

Parliament assembled, and by the authority of the same, as follows:—

1       

Increase in limit on selective financial assistance for industry

(1)   

In section 8 of the Industrial Development Act 1982 (c. 52) (selective financial

assistance: general powers), for subsection (5) (which specifies the limit on the

amount of financial assistance) substitute—

“(5)   

The limit shall be £12,000 million, but the Secretary of State may, on not more

5

than four occasions, by order made with the consent of the Treasury increase

or further increase that limit by a sum specified in the order, being a sum not

exceeding £1,000 million.”

(2)   

The Industrial Development (Financial Assistance) Act 2003 (c. 11) is repealed.

2       

Assistance in connection with exports of goods or services

10

(1)   

In section 1 of the Export and Investment Guarantees Act 1991 (c. 67)

(assistance in connection with exports of goods and services), for subsection (1)

substitute—

“(1)   

The Secretary of State may make arrangements under this section in

connection with supplies by persons carrying on business in the United

15

Kingdom of goods or services to persons carrying on business outside the

United Kingdom.

(1A)   

Arrangements under subsection (1) may be made in connection with goods or

services supplied before the arrangements are made or in connection with

goods or services which are to be, or which may be, supplied.”

20

(2)   

The power conferred by section 1(1) of the Export and Investment Guarantees Act 1991

(as amended by subsection (1)) includes power to make arrangements in connection

with goods or services supplied before this section comes into force.

 

Bill 70                                                                                                 

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Industry and Exports (Financial Support) Bill

2

 

3       

Extent, commencement and short title

(1)   

Any amendment or repeal made by this Act has the same extent as the

enactment amended or repealed.

(2)   

This Act comes into force on the day on which it is passed.

(3)   

This Act may be cited as the Industry and Exports (Financial Support) Act 2009.

5

 
 

 

Industry and Exports (Financial Support) Bill

 
 

A

Bill

To amend section 8(5) of the Industrial Development Act 1982 and to amend

section 1(1) of the Export and Investment Guarantees Act 1991. 

 

Presented by Mr Pat McFadden

 
 

supported by

 
 

The Prime Minister,

 
 

Mr Chancellor of the Exchequer,

 
 

Secretary Paul Murphy, Secretary Jim Murphy

 
 

and Ian Pearson.

 
 

Ordered, by The House of Commons,

 
 

to be Printed, 4 March 2009.

 
 

© Parliamentary copyright House of Commons 2009

 

Applications for reproduction should be made in writing to the Information Policy Team,

 

Office of Public Sector Information, Kew, Richmond, Surrey TW9 4DU

 


 

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