(2.) A special advance under this section may be a free grant or a loan or partly a free grant and partly a loan.
(3.) Any free grant or loan for a special advance under this section shall be made on such conditions and at such rate of interest as the Treasury direct.
Limitation on amount of advance and provision by National Debt Commissioners 6.—(1) The total amount advanced by the Treasury under this Act shall not at any one time exceed one million pounds, of which provision of a sum not exceeding two hundred and fifty thousand pounds may y by expended for the purpose of special advances under this Act.
(2.) The National Debt Commissioners may lend to the Treasury, and Treasury may borrow from the National Debt Commissioners, such money as may be required for the purpose of advances by the Treasury under this Act, on such terms as to interest, sinking fund, and period of repayment (not exceeding thirty years from the date of the loan) as may be agreed on between the National Debt Commissioners and the Treasury.
(3.) The sums so lent by the National Debt Commissioners shall be repaid out of money provided by Parliament for the purpose,and if and so far as that money is insufficient shall be charged on, and payable out of, the Consolidated Fund, or the growing produce thereof.
Consideration of application by Light Railway Commissioners 7.—(1.) Where an application for authorising a light railway under this Act is made to the Light Railway Commissioners, those Commissioners shall, in the first instance, satisfy themselves that reasonable steps have been taken for consulting the local authorities, including road authorities, through whose areas the railway is intended to pass, and the owners and occupiers of the land it is proposed to take, and for giving public notice of the application, and shall also themselves by local inquiry and such other means as they think necessary possess themselves of all such information as they may consider material or useful for determining the expediency of granting the application.
(2.) The applicants shall satisfy the Commissioners that they have—
- (a) published once at least in each of two consecutive weeks, in some newspaper circulating in the area or some part of the area through which the light railway is to pass, an advertisement describing shortly the land proposed to be taken and the purpose for which it is proposed to be taken, naming a place where a plan of the proposed works and the lands to be taken, and a book of reference to the plan, may be seen at all reasonable hours, and stating the quantity of land required; and
- (b) served notice in the prescribed manner on every reputed owner, lessee, and occupier of any land intended to be taken, describing in each case the land intended to be taken, and inquiring whether the person so served assents to or dissents from the taking of his land, and requesting him to state any objections he may have to his land being taken.
