HC Deb 18 July 1983 vol 46 cc108-9

Queen's Recommendation having been signified—

Resolved, That, for the purposes of any Act of the present Session to provide for the appointment and functions of a Director General of Telecommunications, to abolish British Telecommunications' exclusive privilege with respect to telecommunications and to make new provision with respect to the provision of telecommunication services ("the Act"), it is expedient to authorize—

  1. (1) the extinguishment by order of all or any liabilities of the successor company to the Secretary of State in respect of the principal of transferred loans;
  2. (2) the payment out of money provided by Parliament of—
  3. (a) the remuneration of, and any travelling or other allowances payable under the Act to, the Director General of Telecommunications and any staff of the Director, any sums payavle under the Act to or in respect of the Director and any expenses duly incurred by the Director or by any of his staff in consequence of the provisions of the Act;
  4. (b) any sums required by the Secretary of State for making grants or other payments under the Act or for discharging any liability imposed on him by the Act;
  5. (c) any expenses incurred by the Secretary of State in acquiring securities of the successor company or of any subsidiary of the successor company or rights to subscribe for any such securities;
  6. (d) any administrative expenses incurred by the Secretary of State in consequence of the provisions of the Act;
  7. (e) any increase attributable to the Act in the sums payable out of money so provided under any other Act;
  1. (3) the payment out of the National Loans Fund of any sums required by the Secretary of State for making loans under the Act;
and for the purposes of this Resolution "successor company" has the meaning given by the Act and "transferred loan" means any money borrowed or treated as borrowed by British Telecommunications the liability to repay which vests in the successor company by virtue of the Act.—[Mr. Lang.]