Right of reply
The functions of the English Industrial Estates Corporation under section 2 of the English Industrial Estates Corporation Act 1981 (referred to below in this Act as “the 1981 Act”) shall be extended in accordance with subsection (2) below.
After subsection (1) of that section there shall be inserted the following subsections—
There shall be paid out of money provided by Parliament any increase attributable to the provisions of this section in the sums required by the Secretary of State for defraying out of such money the expenses of the English Industrial Estates Corporation.
For section 4(1) of the 1981 Act (which confers borrowing power on the Corporation, but limits that power to borrowing from the Commission of the European Union or from the European Investment Bank) there shall be substituted the following subsection—
In section 6(1)(a) of the 1981 Act (which excepts from the Corporation’s obligations under that section to pay over its receipts to the Secretary of State receipts required for meeting expenses properly payable out of income), for the words “expenses properly payable out of income,” there shall be substituted the words “any of its expenses”.
After section 7(4) of the 1981 Act (which requires the Corporation to send to the Secretary of State a report on the discharge of its functions during each financial year which is to include a copy of its statement of accounts for that year and of any report of the auditors on the accounts) there shall be inserted the following subsections—
In section 16(1) of the Industrial Development Act 1982 (Secretary of State to prepare a statement of accounts in respect of his and the Corporation’s activities which is required to be certified by the Comptroller and Auditor General and subsequently laid before Parliament)—
the words from the beginning to “1981” (in the first place where it occurs) shall be omitted;
in paragraph (a), the words “and of the English Industrial Estates Corporation Act 1981” shall be omitted; and
paragraph (b) and the word “and” immediately preceding it shall be omitted.
For the purpose of the exercise of any of their functions, the Agency may borrow—
In sub-paragraph (1)(a) of that paragraph, for the words “sub-paragraphs (2) and (3)” there shall be substituted the words “ sub-paragraph (2) ”.
This Act may be cited as the Industrial Development Act 1985.
Section 3 of the 1981 Act (which, so far as unrepealed, makes provision for the Corporation to act as agent for the Secretary of State in the execution of any work in respect of which an advance was made to him under an enactment which has been repealed) shall cease to have effect.
The enactments mentioned in the Schedule to this Act are hereby repealed to the extent specified in the third column of that Schedule.
This Act, except section 3 above, shall come into force at the end of the period of two months beginning with the day on which it is passed; and section 3 above shall come into force on 1st April 1986.
This Act does not extend to Northern Ireland.
Section 6. Chapter Shor t title Extent of repeal 1981 c. 13. The English Industrial Estates Corporation Act 1981. Section 3. In section 6(2), the words “other than section 3 above”. 1982 c. 52. The Industrial Development Act 1982. In section 16(1)— the words from the beginning to “1981” (in the first place where it occurs); in paragraph (a), the words “and of the English Industrial Estates Corporation Act 1981”; paragraph (b) and the word “and” immediately preceding it.