HC Deb 08 February 1977 vol 925 cc1359-60

Queen's Recommendation having been signified—

Resolved, That, for the purposes of any Act of the present Session ('the new Act') to make further financial provision for and in respect of British Nuclear Fuels Limited ('BNFL'), the Radiochemical Centre Limited ('TRCL') and the National Nuclear Corporation Limited ('NNCL'), it is expedient that provision should be made as follows—

  1. (a) sums required by the Secretary of State for fulfilling guarantees given for BNFL 1360 or TRCL under powers conferred by the new Act to be paid out of money provided by Parliament, and consequential payments to the Secretary of State by either company to be paid into the Consolidated Fund;
  2. (b) the commitment of public finance to the two companies under sections 11 and 12 of the Atomic Energy Authority Act 1971 (Votes and the National Loans Fund) and under the new Act (Votes) to be limited as follows—
    1. (i) for BNFL, £300 million (or up to £500, million by order),
    2. (ii) for TRCL, £5 million (or up to £15 million by order),
    plus £1400 million (or up to £500 million by order) for guarantees given by the Secretary of State under powers conferred by the new Act in respect of payments in advance made to BNFL by its customers; and
  3. (c) payment out of money provided by Parliament of expenditure which the Secretary of State may incur with a view to or in connection with the acquisition for the Crown of shares in, or securities of, NNCL or any subsidiary of that company.—[Mr. Bates.]

Forward to