§ Queen's Recommendation having been signified—Resolved,
§ That, for the purposes of any Act of this Session to increase the limit on the borrowing powers of the National Coal Board; and to make further provision with respect to grants and payments by the Secretary of State in connection with the coal industry, it is expedient to authorize—
§ Increase of borrowing limits
§ 1. Any payment out of the National Loans Fund, the Consolidated Fund or money provided by Parliament resulting from increasing to £4,500 million, with power to increase by order to £5,000 million, the limit on borrowing by the Board.
§ Deficit grants
§ 2. Any increase in payments out of money provided by Parliament resulting from extending the period in respect of which grants may be made under section 3 of the Coal Industry Act 1980 (grants in respect of group deficits of the Board and their subsidiaries) to cover the financial year of the Board ending in March 1984.
§ Redundant workers
§ 3. The payment out of money provided by Parliament of the sums required to reimburse the Board the amount of payments made by them in respect of loss of superannuation and 207 employment prospects of persons becoming eligible on or after 11th March 1981 to receive payments under a scheme under section 7 of the Coal Industry Act 1977 (payments to redundant workers), being payments of an amount determined in such manner as may be agreed between the Board and the Secretary of State with the approval of the Treasury.
§ Increase of limits on certain grants and payments
§ 4. Any increase in payments out of money provided by Parliament resulting from—
§ (a) increasing to £1,000 million, with power to increase by order to £1,750 million, the limit on the aggregate amount of grants under section 3 of the Coal Industry Act 1980 (deficit grants), sections 2 and 3 of the Coal Industry Act 1977 (grants for promoting the sale of coal to Electricity Boards and in connection with stocks of coal and coke) and section 8 of the Coal Industry Act 1973 (grants in respect of coking coal);
208§ (b) increasing to £200 million the limit on the aggregate amount of grants made under section 6 of the Coal Industry Act 1977 (grants in connection with pit closures);
§ (c) increasing to £300 million the limit on the aggregate amount of payments by the Secretary of State under section 7 of that Act (payments to or in respect of redundant workers).
§ Receipts
§ 5. Payments into the National Loans Fund or the Consolidated Fund.—[Mr. David Hunt.]