47 Loans for development
Petroleum Act 1998 (1998 c 17) | Legislation

47  Loans for development

(1)     Where it appears to the Secretary of State expedient to do so for the purpose of facilitating or maintaining the development of the petroleum resources of the United Kingdom, he may with the approval of the Treasury—

(a)     make loans to an oil company on terms determined by him; or

(b)     guarantee on such terms the repayment of the principal of and the payment of interest on loans made to an oil company

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