HC Deb 05 July 1956 vol 555 c1549

Resolution reported, That, for the purposes of any Act of the present Session to extend the power of the Minister of Fuel and Power to make advances to the National Coal Board for capital purposes, it is expedient to authorise the issue out of the Consolidated Fund, the raising in any manner authorised under the National Loans Act, 1939, or the payment into the Exchequer, of any increases in the sums authorised by the Coal Industry Nationalisation Act, 1946, to be so issued, raised or paid which are attributable to any provision of the said Act of the present Session replacing the previous restrictions on the power of the Minister of Fuel and Power to make advances to the National Coal Board for capital purposes by a provision that the aggregate amount outstanding by way of principal in respect of such advances—

  1. (a) shall not at any time exceed six hundred and fifty million pounds; and
  2. (b) shall not at any time in any financial year exceed by more than seventy-five million pounds (or such greater sum as the said Minister may by order specify for that year) the highest aggregate amount so outstanding at any time during the immediately preceding financial year.

Resolution agreed to.