Public Works and Fisheries Acts Amendment Act 1863  Public Works Loans Act 1875  ( a ) 1863 c. 81.  ( b ) 1968 c.13.  4 3.  The Public Works and Fisheries Acts Amendment Act 1863( a ) is amended as follows.  4. —(1) Section 1 (Public Works Loan Commissioners may grant priority of security in respect  of loans to harbour authorities by other persons over securities given to them) is amended as  follows.  (2) In the heading for “Public Works Loan Commissioners” substitute “The Treasury”.  (3) For “the Public Works Loan Commissioners” substitute “local loans made under section 3 of  the National Loans Act 1968”.  (4) For “the Commissioners” in each place occurring, substitute “the Treasury”.  (5) For “the said Commissioners” substitute “the Treasury”.  5. —(1) Section 2 (such priority not to give validity to any security which could not have been  given if this Act had not passed, etc) is amended as follows.  (2) For “Commissioners” substitute “Treasury” in the first and last place occurring.  (3) For “secretary for the time being of the Commissioners” substitute “Public Works Loans  Secretary (see section 6 of the Public Works Loans Act 1875)”.  6. —(1) Section 3 (how priority may be granted) is amended as follows.  (2) For “Public Works Loan Commissioners” substitute “Treasury”.  (3) For “under the hand of the secretary for the time being of the Commissioners” substitute “by  the Public Works Loans Secretary”.  (4) For “which the Commissioners” substitute “which the Treasury”.  7. —(1) Section 4 (harbour authorities may borrow money to pay off debts having priority over  securities for loans by Public Works Loan Commissioners, etc) is amended as follows.  (2) In the heading for “loans by Public Works Loan Commissioners, etc” substitute “local loans  made by the Treasury”.  (3) For “loan by the Public Works Loan Commissioners” substitute “local loan, made under  section 3 of the National Loans Act 1968( b ),”.  (4) For “relating to the Public Works Loan Commissioners” substitute “relating to local loans”.  8.  The Public Works Loans Act 1875 is amended as follows.  9.  Omit section 4 (constitution, &c. of Public Works Loan Commissioners).  10. —(1) Section 5 (powers, etc of Commissioners) is amended as follows.  (2) In the heading, for “Commissioners” substitute “the Treasury”.  (3) In the words before subsection (1) for “the Loan Commissioners” substitute “local loans”.  (4) In subsection (2) for “Commissioners” substitute “Treasury”.  (5) In subsection (3)–  (6) Omit subsections (4) and (5).  (a) for “Loan Commissioners” substitute “Treasury” in each place occurring;  (b) for “the Commissioners” substitute “the Treasury”;  (c) omit the words “either before or after the passing of this Act”; and  (d) omit the words “transmitted to the Treasury and shall be”. 