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(1) The Electricity Commissioners shall at the beginning of each financial year prepare an Estimate of their receipts and expenditure, other than on account of loans under the last preceding Section, during the year, and submit it for approval by the Board of Trade.
(2) The Electricity Commissioners shall apportion the amount by which the estimated expenses so approved exceed the estimated receipts so approved amongst the several district electricity boards, joint electricity authorities, and authorised undertakers within the United Kingdom in proportion to the number of units of electricity generated by or on be, half of those boards, authorities, and undertakers respectively in the preceding year; and every such district board, authority, or undertaker shall, on demand from the Electricity Commissioners pay to them as a contribution towards their expenses the sum so apportioned: Provided that during the first two years after the passing of this Act the amount of such excess shall be paid out of moneys provided by Parliament, but such payments shall be treated as advances and shall be repaid, with interest at such rate as the Treasury may fix, by the Commissioners by equal annual instalments in the next three succeedinc years.
(3) All sums received by the Commissioners shall be paid into a separate fund, and out of that fund the salaries, remuneration, pensions and gratuities of the Commissioners, their secretary, officers, and servants and all expenses incurred by the Commissioners shall be paid, and the Treasury may determine that that fund shall be a public fund within the meaning of the Superannuation Act, 1892:
Provided that this Section shall not apply to sums which by this Act are payable into or out of the electricity loans fund.
§ Lords Amendments: In Sub-section (1), leave out the words "other than on account of loans under the last preceding Section."—Agreed to.
§ In Sub-section (2), leave out the words. "district electricity boards."—Agreed to.
§ Leave out the word "boards"["boards, authorities, and undertakers."].—Agreed to.
§ Leave out the words "district boa-rd "["every such district board"]—Agreed to.
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In Sub-section (3), leave out the words
Provided that this Section shall not apply to sums which by this Act are payable into or out of the electricity loans fund.
§ —Agreed to.