HC Deb 31 January 1952 vol 495 c497

Resolution reported: That, for the purposes of any Act of the present Session to extend the borrowing powers of the North of Scotland Hydro-Electric Board, it is expedient to authorise—

  1. (a) the payment out of the Consolidated Fund of any increase attributable to the said Act in the sums which may be required by the Treasury for fulfilling any guarantees given by them under section fourteen of the Hydro-Electric Development (Scotland) Act, 1943, in respect of loans raised or to be raised by the said Board, 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 Electricity Act, 1947) and of any moneys temporarily borrowed by the said Board do not at any time exceed the sum of two hundred Million pounds, excluding stock issued and moneys temporarily borrowed for the purpose of redeeming stock or repaying moneys temporarily borrowed; and
  2. (b) the payment into the Exchequer of any sums paids in or towards the repayment of any sum issued out of the Consolidated Fund by virtue of the said Act of the present Session.