§ Resolution reported,
That, for the purposes of any Act of this Session to increase the statutory limits imposed on the amounts outstanding in respect of borrowings by the Electricity Council and Electricity Boards and the Gas Council and Area Gas Boards, and to make further provision for Exchequer advances to certain of those bodies, it is expedient to authorise—
- (I) such increases in the sums which by or under any enactment are to be or may be charged on or issued out of the Consolidated Fund, raised by borrowing, or paid into the Exchequer, as may result from provisions of the said Act of this Session—
- (a) increasing to £4,400 million the limit imposed by section 15(5) of the Electricity Act 1957 on the amounts outstanding in respect of borrowings by the Electricity Council, the Central Electricity Generating Board and Area Electricity Boards;
- (b) substituting an aggregate limit of £580 million for the separate limits imposed by section 47(7) of the Electricity Act 1947 on the amounts out-
1495 standing in respect of borrowings by the North of Scotland Hydro-Electric Board and the South of Scotland Electricity Board; and - (c) increasing to £650 million the limit imposed by section 42 of the Gas Act 1948 on the amounts outstanding in respect of borrowings by the Gas Council and Area Gas Boards;
- (2) the issue out of the Consolidated Fund, raising by borrowing or payment into the Exchequer of such sums as may be required to be so issued, raised or paid in consequence of provisions of the said Act of this Session whereby the Minister of Power may advance to the Electricity Council or the Gas Council, and the Secretary of State may advance to the North of Scotland Hydro-Electric Board or the South of Scotland Electricity Board, any sum which the Council or Board in question has power to borrow.
§ Resolution agreed to.