This Statutory Instrument has been printed in substitution of the SI of the same number and is being issued free of charge to all known recipients of that Statutory Instrument.
Statutory Instruments
2011 No. 1718
Highways, England
The Humber Bridge (Debts) Order 2011
Made
11th July 2011
Laid before Parliament
14th July 2011
Coming into force
9th August 2011
The Secretary of State for Transport, in exercise of the powers conferred by section 1(1) of the Humber Bridge (Debts) Act 1996( 1 ), and with the consent of the Treasury, makes the following Order.
Citation and commencement
1. This Order may be cited as the Humber Bridge (Debts) Order 2011 and comes into force on 9th August 2011.
Waiver of interest
2. —(1) The sum specified in paragraph (3) which would, but for this Order, be payable to the Secretary of State for Transport under the agreements referred to in paragraph (2), is not payable.
(2) The agreements referred to in paragraph (1) are those dated 29th March 1972, 1st July 1998 and 19th June 2007 and made between the Secretary of State and the Humber Bridge Board under section 5(3) of the Humber Bridge Act 1971 ( 2 ) (“the Agreements”).
(3) The sum referred to in paragraph (1) is that amount of interest accruing from 1st April 2011 to 31st March 2016 on all sums owed to the Secretary of State under the Agreements, on which interest is still payable after taking into account the releases referred to in paragraph (4), to the extent that it exceeds the amount of such interest calculated as if the rate of interest applicable for the period beginning on 1st April in each year specified in column (1) of the Table and ending on 31st March in the following year was the corresponding rate specified in column (2).
Table
|
(1) Year |
(2) Rate of interest |
| 2011 | 5.13% |
| 2012 | 4.82% |
| 2013 | 4.52% |
| 2014 | 4.25% |
| 2015 | 4.25% |
(4) The releases referred to in paragraph (3) are the releases set out at items 14-16 in the Table in paragraph 3 of the Schedule to the Humber Bridge (Debts) Order 1998( 3 ).
Signed by authority of the Secretary of State for Transport
Norman Baker
Parliamentary Under Secretary of State
Department for Transport
7th July 2011
We consent
Jeremy Wright
Michael Fabricant
Two of the Lords Commissioners of Her Majesty’s Treasury
11th July 2011