Shipbuilding Act 1985(repealed 5.11.1993 for Act except s. 1 and 1.4.1996 otherwise)
This section extends the period in respect of which schemes made under the Shipbuilding (Redundancy Payments) Act 1978 have effect.
In— for the words “eight years” there shall, in each case, be substituted the words “ nine years and six months ”.
Article 2(1) of the Scheme set out in Schedule 2 to the Shipbuilding (Redundancy Payments Scheme) (Great Britain) Order 1981, as amended by Article 2(2) of the Shipbuilding (Redundancy Payments Scheme) (Great Britain) (Amendment) Order 1982; and
Article 2(1) of the Scheme set out in Schedule 2 to the Shipbuilding (Redundancy Payments Scheme) (Northern Ireland) Order 1981 , as amended by Article 2(2) of the Shipbuilding (Redundancy Payments Scheme) (Northern Ireland) (Amendment) Order 1982;
Section 2(4) of the Act of 1978 is hereby repealed.
All outstanding liabilities in respect of the loan made by the Shipbuilding Industry Board to Upper Clyde Shipbuilders Limited under section 4 of the Shipbuilding Industry Act 1967 are hereby extinguished.
The assets of the National Loans Fund shall accordingly be reduced by £2,169,106. 99 in respect of the principal outstanding and £120,671.19 in respect of the interest outstanding.
This Act may be cited as the Shipbuilding Act 1985.
This Act extends to Northern Ireland.