The Crown Estate Act 1961 is amended as follows.
Explanatory notes to the Bill, prepared by HM Treasury, are published separately as HL Bill 5—EN.
Lord Livermore has made the following statement under section 19(1)(a) of the Human Rights Act 1998:
In my view the provisions of the Crown Estate Bill [HL] are compatible with the Convention rights.
A
bill
to
Amend the Crown Estate Act 1961.
B e 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:—
The Crown Estate Act 1961 is amended as follows.
In section 1 (general provision about Crown Estate Commissioners), after The powers exercisable by the Commissioners in the discharge of their
subsection (4) insert—
“(4A)
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.”
In section 3 (management powers etc)—
omit subsection (4), and
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.”
“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)
(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.”
Schedule 1 to the Crown Estate Act 1961 (constitution etc of Crown Estate
Commissioners) is amended as follows.
In paragraph 1—
in sub-paragraph (1), for “eight” substitute “12”;
in sub-paragraph (3), omit “, and the second Crown Estate
Commissioner, if any, deputy chairman”.
“5The 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.”
This Act extends to England and Wales, Scotland and Northern Ireland.
This Act comes into force at the end of the period of two months beginning
with the day on which it is passed.
This Act may be cited as the Crown Estate Act 2024.
A
bill
to
Amend the Crown Estate Act 1961.
Ordered to be Printed, .
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