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National Oil Account

Volume 33: debated on Tuesday 30 November 1982

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asked the Secretary of State for Energy whether he intends to make a further transfer of funds from the National Oil Account to the Consolidated Fund, as provided for in section 40(3) of the Petroleum and Submarine Pipe-lines Act 1975.

With Treasury agreement, I have today made a transfer of £1,600 million from the National Oil Account to the Consolidated Fund.