ATOMIC ENERGY AUTHORITY BILL [Money]

– in the House of Commons at 10:15 pm on 14th March 1995.

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Queen's recommendation having been signified—

Motion made, and Question put forthwith, pursuant to Order [19 December],

That, for the purposes of any Act resulting from the Atomic Energy Authority Bill ('the Act'), it is expedient to authorize—

  1. (1) the payment out of money provided by Parliament of the following, namely—
    1. (a) expenses incurred by the Treasury or the Secretary of State in consequence of provision made by the Act for the acquisition of, or of rights to subscribe for, securities of successor companies;
    2. (b) any increase attributable to the Act in the administrative expenses of the Secretary of State or the Treasury;
    3. (c) any increase attributable to the Act in the sums which under any other Act are payable out of money so provided;
  2. (2) the extinguishment of liabilities of the United Kingdom Atomic Energy Authority ('the Authority') in respect of the principal of such relevant loans as may be specified by order to such extent as may be so specified;
  3. (3) the extinguishment of liabilities of a successor company in respect of the principal of such relevant loans as may be specified by order to such extent as may be so specified at a time when the company is wholly owned by the Crown or a wholly-owned subsidiary of the Authority;
  4. (4) the issuing out of the National Loans Fund of sums required by the Secretary of State for making loans to any successor company which is wholly owned by the Crown;
  5. (5) the charging on and issuing out of the Consolidated Fund of sums required by the Treasury for fulfilling such guarantees given by them for the discharge of financial obligations in connection with sums borrowed by any successor company which is wholly owned by the Crown;
  6. (6) the payment of sums into the Consolidated Fund or the National Loans Fund.

In this Resolution—

'relevant loan'—

  1. (a) in relation to the Authority, means the Authority's commencing capital debt and any loan made to the Authority under section 4 of the Atomic Energy Authority Act 1986,
  2. (b) in relation to a successor company, means any debt or loan mentioned in paragraph (a) above (if and to the extent that the liability to repay it is transferred to the company in accordance with a scheme under the Act) and any loan made to the company by the Secretary of State under the Act;

'successor company' means any company which, at a time when it is wholly owned by the Crown or a wholly-owned subsidiary of the Authority, becomes entitled or subject, in accordance with a scheme under the Act, to any property, rights or liabilities of the Authority.—[Mr. Andrew Mitchell.]

Question agreed to.