HC Deb 24 June 1974 vol 875 cc1116-7

Queen's Recommendation having been signified—

Resolved, That, for the purposes of any Act of the present Session to amend the law relating to the British Railways Board, it is expedient to authorise:— (1) the reduction to £250 million of the total liability of the Board in respect of their commencing capital debt under section 39 of the Transport Act 1962 and in respect of sums borrowed from the Secretary of State under section 19 of that Act; (2) any increase in the sums to be paid into or out of the National Loans Funds or the Consolidated Fund in consequence of any provisions of the new Act increasing the limit imposed by section 42(6) of the Transport Act 1968 on the aggregate amount outstanding in respect of the Board's borrowings and commencing capital debt to £900 million; (3) the payment out of money provided by Parliament of sums required by the Secretary of State to reimburse the Board the amount of—

  1. (a) payments made to the persons administering or the trustees of any relevant pension scheme, and sums appropriated by the Board for the benefit of any such scheme, for the purpose of funding any such scheme, including payments made and sums appropriated by way of interest; and
  2. (b) expenditure incurred by the Board and sums appropriated by them for the benefit of the fund of any scheme to which the British Railways Board (Alteration of Pension Schemes) Order 1973 relates, for the purpose of repaying, and paying interest on, sums belonging to any such scheme and deposited with the Board or applied to the general purposes of their undertaking.
(4) the payment out of money provided by Parliament of sums required by the Secretary of State for making grants towards expenditure on the provision of facilities for the loading and unloading of rail freight; (5) the payment out of money provided by Parliament of sums required by the Secretary of State to pay remuneration to the chairman of the Central Transport Consultative Committee for Great Britain or to the chairman of any Area Transport Users' Consultative Committee established under section 56 of the Transport Act 1962. In this resolution 'relevant pension scheme' means a pension scheme in relation to which the Board have or exercise functions or which was established by the Board.—[Mr. Pavitt.]