Transport Money

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Queen's Recommendation having been signified—

Resolved.

That, for the purposes of any Act of the present Session to amend the law relating to public service vehicles; to make provision for and in connection with the transfer of the undertaking of the National Freight Corporation to a company; and to provide for the making of payments by the Minister of Transport in aid of certain railway and other pension schemes, it is expedient to authorise—

(1) the payment out of money provided by Parliament of—

(a) any administrative expenses incurred by any government department in consequence of the provisions of that Act;

(b) any increase attributable to that Act in the sums payable out of money so provided under any other Act;

(2) the remission of the liabilities of the National Freight Corporation to the Minister of Transport in respect of—

(a) the Corporation's commencing capital debt; and

(b) loans made to the Corporation by the Minister;

(3) the payment out of money provided by Parliament of any sums required for making payments to the persons administering B.R. and N.F.C. pension schemes (as defined in that Act) being payments calculated, in relation to each scheme and for each financial year, by reference to—

(a) the proportion of the relevant pension obligations (as so defined) which has not been funded;

(b) the proportion of the pensions increases and expenses payable under or incurred in connection with the scheme which corresponds to those obligations; and

(c) the aggregate amount of the pensions, increases and expenses payable under or incurred in connection with the scheme for that year;

(4) the payment of any sums into the Consolidated Fund.—[Mr. Kenneth Clarke.]

Volume 974: debated on Tuesday 27 November 1979