That for the purposes of any Act of the present Session to make provision, amongst other matters, for the establishment of a British Overseas Airways Corporation, and to make further and better provision for the operation of air transport services, it is expedient—
- A. To charge on the Consolidated Fund any sums required by the Treasury for
2368 fulfilling any guarantee of the redemption or repayment of, and the payment of interest on, any stock issued or temporary loan raised by the corporation, being stock or loans the aggregate amount of the principal whereof outstanding at any time (exclusive of amounts borrowed for redeeming stock or paying off a loan) does not exceed ten million pounds.
- B. To authorise the payment into the Exchequer of—
- (a) any sums received by way of repayment of sums issued out of the Consolidated Fund for fulfilling any such guarantee as aforesaid or by way of interest thereon; and
- (b) any sums paid by the corporation to the Secretary of State under the said Act.
- C. To authorise the payment out of moneys provided by Parliament of—
- (a) grants to the corporation of such amounts as may be determined by the Secretary of State under the said Act;
- (b) such grants as the Secretary of State may agree to make in consideration of undertakings with respect to overseas air transport services entered into with him by any company in which the corporation has a financial interest and to which a subsidy is payable by the Government of some country other than the United Kingdom in consideration of corresponding undertakings entered into by that company with that Government; and
- (c) any expenses incurred by the Secretary of State in the provision of facilities for the operation of aircraft of the corporation or of any such company as aforesaid;
§ Provided that the aggregate amount of the grants to be made under this Resolution in any financial year, where added to the aggregate amount of any subsidies paid in that year under agreements made before the commencement of the said Act in pursuance of Section one of the Air Navigation Act, 1936, as amended by the Air Navigation (Financial Provisions) Act, 1938, shall not exceed four million pounds, and no such grant shall be made after the thirty-first day of December, nineteen hundred and fifty-three."