The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024
This article discusses the Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024 and explains its implications.
The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024, which came into force on March 31st, 2024, increases the borrowing limit of each General Lighthouse Authority (GLA) in England and Wales to £100 million. The previous borrowing limit was £50 million.
The GLAs, which are Trinity House, the Northern Lighthouse Board, and the Commissioners of Irish Lights, are responsible for maintaining and improving aids to navigation, such as lighthouses, buoys, and fog horns. The increase in the borrowing limit will enable the GLAs to invest in new and improved aids to navigation, which will help to improve safety for mariners.
The Order also makes a number of other changes to the Merchant Shipping (General Lighthouse Authorities) Regulations 1998, which govern the operation of the GLAs. These changes include:
- Extending the period for which the GLAs can borrow money from 10 years to 15 years
- Allowing the GLAs to borrow money from a wider range of sources
- Increasing the flexibility of the GLAs’ borrowing arrangements
- The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024 is a welcome development that will enable the GLAs to invest in new and improved aids to navigation, which will help to improve safety for mariners.
Conclusion
The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024 is a significant piece of legislation that will have a positive impact on the safety of mariners. The increase in the borrowing limit will allow the GLAs to invest in new and improved aids to navigation, which will help to prevent accidents and save lives.
The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024
The AI has provided us with the news.
I’ve asked Google Gemini the following question, and here’s its response.
UK New Legislation a new article on 2024-12-03 15:35 titled “The Merchant Shipping (General Lighthouse Authorities) (Increase of Borrowing Limit) Order 2024”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
112