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Coal Industry Bill Money

Volume 163: debated on Monday 4 December 1989

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Queen's recommendation having been signified—

Resolved,

That, for the purposes of any Act resulting from the Coal Industry Bill, it is expedient to authorize—

(1) the payment out of money provided by Parliament of any sums required to enable the Secretary of State to make grants to the British Coal Corporation of amounts not exceeding in aggregate—

  • (a) the amount identified in the consolidated accounts for the financial year of the Corporation ending in March 1990 directed to be prepared under section 8(1) of the Coal Industry Act 1971 as the accumulated group deficit at the end of that financial year regarding any such grants, or
  • (b) in the case of grants made in advance of the preparation of those accounts, the amount that the Secretary of State is satisfied will be so identified in those accounts; and
  • (2) any increase in the sums so payable resulting from—

  • (a) increasing to £1,250 million, with power to increase by order to £1,500 million, the limit imposed on the aggregate amount of grants made under section 3 of the Coal Industry Act 1987, and
  • (b) enabling such grants to be made in respect of costs falling to be charged to accounts in respect of financial years ending March 1992 but not later than March 1993.—[Mr. Greg Knight.]