HC Deb 15 December 1983 vol 50 cc1225-6

Amendments made:

No. 103, in page 181, line 34, at end insert— '(2) Nothing in sub-paragraph (1) above shall be taken as applying in relation to the deed of covenant by virtue of which the excepted liabilities subsist.'.

No. 104, in page 182, line 3, at end insert— '(2) Nothing in sub-paragraph (1) above shall be taken as applying in relation to the excepted liabilities or to the deed of covenant by virtue of which those liabilities subsist.'.

No. 114, in page 18, line 9, leave out `of British Telecommunications'.

No. 15, in page 182, line 13, leave out 'of British Telecommunications.'

No. 116, in page 182, leave out lines 22 and 23 and insert `foreign property, right or liability'.

No. 117, in page 182, line 31 after 'any', insert `foreign'.

No. 118, in page 182, line 35 leave out 'section' and insert `paragraph'.

No. 119, in page 182, line 36, leave out `of British Telecommunications'.

No. 120, in page 182, line 37, leave out `of British Telecommunications'.

No. 105, in page 182 leave out lines 42 to 45.

No. 106, in page 182, line 46 leave out 'in performing its duty'.

No. 107, in page 182, line 48 at end insert— '38A.—(1) During the transitional period it shall be the duty of British Telecommunications to discharge the excepted liabilities as they fall to be discharged. (2) Subject to sub-paragraph (3) below, the excepted liabilities shall be discharged, and any expenses incurred by British Telecommunications under this paragraph shall be met, out of sums received by British Telecommunications in right of or on the disposal of such debentures of the successor company as the Secretary of State, with the approval of the Treasury, may transfer to British Telecommunications (in this paragraph referred to as "the transferred debentures"). (3) British Telecommunications may not dispose of any of the transferred debentures without the consent of the Secretary of State given with the approval of the Treasury. (4) Where so much of any sums so received as is held by British Telecommunications on any day exceeds the aggregate for that day of—

  1. (a) any excepted liability falling to be discharged; and
  2. (b) any expenses falling to be met under this paragraph, the excess shall be applied by British Telecommunications in such manner as the Secretary of State, with the approval of the Treasury, may direct; and a direction under this subparagraph may require the whole or any part of the excess to be paid into the Consolidated Fund.
(5) Where so much of any sums so received as is held by British Telecommunications on any day falls short of the aggregate for that day of—
  1. (a) any excepted liability falling to be discharged; and
  2. (b) any expenses falling to be met under this paragraph, the deficiency shall he made good by the Secretary of State out of money provided by Parliament.

No. 108, in page 183, line 15 leave out 'in performing its duty'.

No. 109, in page 183, line 41 at end add `or to any records kept by British Telecommunications for the purposes of paragraph 38A above'.

No. 110, in page 185, line 30 after "liabilities', insert `(other than the excepted liabilities)'.

No. 111, in page 186, line 16 at end insert— securities" has the same meaning as in Part V of this Act.'.—[Mr. David Hunt.]

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