HC Deb 10 February 1947 vol 433 cc146-7

Resolution reported: That, for the purposes of any Act of the present Session to provide, amongst other things, for the establishment of a British Electricity Authority and Area Electricity Boards and for the exercise and performance by that Authority and those Boards and the North of Scotland Hydro-Electric Board of functions relating to the supply of electricity, it is expedient to authorise—

  1. (a) the payment out of the Consolidated Fund of such sums as may be required to fulfil any guarantee by the Treasury of the principal of and interest on stock issued by the said Authority or the principal of and interest on moneys temporarily borrowed by the said Authority or any Area Electricity Board, so, however, that the amounts outstanding in respect of the principal of the stock so issued, otherwise than for the purpose of paying compensation under the said Act, and in respect of any moneys temporarily borrowed as aforesaid do not at any time exceed the sum of seven hundred million pounds, excluding amounts outstanding in respect of stock issued or moneys temporarily borrowed for the purpose of redeeming stock or repaying moneys temporarily borrowed;
  2. (b)the payment out of the Consolidated Fund of such sums as may be required to fulfil any guarantee by the Treasury of the principal of and interest on any loan raised by the North of Scotland Hydro-Electric Board, or of either the principal thereof or the interest thereon, so, however, that the aggregate of the amounts outstanding in respect of the principal of any stock issued for the purpose of raising any such loan (other than stock issued to the British Electricity Authority in respect of compensation paid by that Authority under the said Act) and of any moneys temporarily borrowed by the said Board do not at any time exceed the sum of one hundred million pounds excluding stock issued and moneys temporarily borrowed for the purpose of redeeming stock or repaying moneys temporarily borrowed;
  3. (c) the payment out of moneys provided by Parliament of—
    1. (i) remuneration and allowances to, and expenses of, stockholders' representatives appointed under the said Act;
    2. (ii) remuneration and allowances to any auditor appointed under the said Act to ascertain sums payable to stockholders' representatives;
    3. (iii) remuneration and allowances to members and officers of the arbitration tribunal appointed under the said Act and to persons to whom proceedings are referred by that tribunal, and any other expenses of that tribunal;
    4. (iv) fees and allowances to any referee or board of referees appointed under the said Act to decide questions relating to the rights of or in respect of officers, and allowances to witnesses appearing before any referee or board;
    5. (v) pensions to persons who have been Electricity Commissioners or officers of the Electricity Commissioners;
    6. (vi) the administrative expenses incurred under the said Act by any Minister of the Crown or Government department;
  4. (d) the payment into the Exchequer of any sums received under or by virtue of the said Act by any Minister of the Crown or Government department."

Resolution agreed to