EXPLANATORY NOTES

Explanatory notes to the Bill, prepared by HM Treasury, are published separately as —EN.

EUROPEAN CONVENTION ON HUMAN RIGHTS

has made the following statement under section 19(1)(a) of the Human Rights Act 1998:

In my view the provisions of the are compatible with the Convention rights.

 [] CONTENTS 1Power of Crown Estate Commissioners to borrow etc 2Number of Crown Estate Commissioners and their salaries and expenses 3Extent, commencement and short title []

A

bill

to

Amend the Crown Estate Act 1961.

Be it enacted by the King’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 Power of Crown Estate Commissioners to borrow etc (1)

The Crown Estate Act 1961 is amended as follows.

 (2)

In section 1 (general provision about Crown Estate Commissioners), after subsection (4) insert— (4A)

The powers exercisable by the Commissioners in the discharge of their functions under this Act include powers to do anything which is calculated to facilitate, or is conducive or incidental to, the discharge of those functions.

(3)

In section 3 (management powers etc)—

 (a)

omit subsection (4), and

 (b)

in subsection (5), for the words from “, on security” to the end substitute “in accordance with section 3A, or otherwise with the consent of the Treasury.”

 (4)

After that section insert—

3A Power of the Commissioners to borrow etc (1)

The Treasury may—

 (a)

arrange for loans to be issued to the Commissioners out of the National Loans Fund;

 (b)

provide financial assistance (including by way of loan) to the Commissioners out of money provided by Parliament.

 (2)

In the case of a loan issued under subsection (1)(a)—

 (a)

the Treasury may determine the rate of interest on the loan (and, accordingly, section 5 of the National Loans Act 1968 applies); and

 (b)

the Treasury must pay any sums received in respect of the loan into the National Loans Fund.

2 Number of Crown Estate Commissioners and their salaries and expenses (1)

Schedule 1 to the Crown Estate Act 1961 (constitution etc of Crown Estate Commissioners) is amended as follows.

 (2)

In paragraph 1—

 (a)

in sub-paragraph (1), for “eight” substitute “12”;

 (b)

in sub-paragraph (3), omit “, and the second Crown Estate Commissioner, if any, deputy chairman”.

 (3)

For paragraph 5 substitute— 5

The salaries and expenses of the Commissioners, including the remuneration of persons appointed by them under paragraph 4(1), are to be paid out of the income of the Crown Estate.

3 Extent, commencement and short title (1)

This Act extends to England and Wales, Scotland and Northern Ireland.

 (2)

This Act comes into force at the end of the period of two months beginning with the day on which it is passed.

 (3)

This Act may be cited as the Crown Estate Act 2024.
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Ordered to be Printed, 25th July 2024.

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