Coal Industry Act 1973

Capital reconstruction of National Coal Board

1

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Borrowing powers of the Board and its subsidiaries and powers to guarantee loans

2

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Extension of power to make grants to Board in connection with pit closures

3

Extension of power to make redundancy payment schemes

4

Reimbursement of Board's contributions towards increased pensions

5

Payments for promoting sale of coal to Electricity Boards

6

• (1) For the purpose of promoting the sale of coal by the National Coal Board to the Central Electricity Generating Board or the South of Scotland Electricity Board during the period consisting of the financial years 1974-1976, the Secretary of State with the approval of the Treasury may out of moneys provided by Parliament make payments to the National Coal Board.

• (2) The aggregate amount of the payments made by the Secretary of State under this section shall not exceed £50 million or such greater sum, not exceeding £100 million, as the Secretary of State may by order specify.

• (3) Payments made by the Secretary of State under this section may be made subject to such conditions as the Secretary of State with the approval of the Treasury may determine.

Grants in connection with stocks of coal or coke

7

• (1) Subject to the following provisions of this section, the Secretary of State with the approval of the Treasury may, out of moneys provided by Parliament, make grants to the Board towards any cost incurred by the Board in any of the financial, years 1974-1976 in building up and maintaining stocks of coal or coke.

• (2) For the purposes of this section no account shall be taken—

• (a) of any stocks of coal or coke for the time being owned by the Board except in so far as they exceed such quantity as the Secretary of State may determine, or

• (b) of any stocks of coal or coke for the time being owned by the Board in excess of 30 million tonnes.

• (3) The Secretary of State may by order direct that subsection (1) of this section shall have effect as if, after the words “financial years 1974-1976 ”, there were inserted the words “or of the financial years of the Board ending in March 1977 and in March 1978 respectively ”.

• (4) The aggregate amount of the grants made by the Secretary of State under this section—

• (a) if an order is made under subsection (3) of this section, shall not exceed £70 million, or

• (b) if no such order is made, shall not exceed £40 million.

• (5) Grants under this section may be made subject to such conditions as the Secretary of State with the approval of the Treasury may determine.

Grants in respect of coking coal

8

Regional grants

9

Increase in membership of Board

10

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Administrative expenses

11

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Interpretation, and provisions as to orders

12

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Amendments and repeals

13

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Short title, citation, commencement and extent

14

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SCHEDULE 1

1

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2

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3

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4

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SCHEDULE 2

Capital reconstruction of National Coal Board.

6

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Editorial notes

[^c703269]: S. 3 repealed, with saving for grants under Coal Industry Act 1971 (c. 16), s. 1 in respect of Board's financial year ending in March 1978 or in any earlier year, by Coal Industry Act 1977 (c. 39), Sch. 5 Pt. I

[^c703270]: S. 4 repealed with saving by Coal Industry Act 1977 (c. 39), s. 7(10), Sch. 5 Pt. II

[^c703271]: S. 5 repealed by National Coal Board (Finance) Act 1976 (c. 1), s. 2(6)

[^c703272]: Ss. 6, 7 repealed by Coal Industry Act 1977 (c. 39), Sch. 5 Pt. II

[^c703273]: S. 8 repealed by Coal Industry Act 1983 (c. 60, SIF 86), s. 2(3), Sch.

[^c703274]: S. 9 repealed by Coal Industry Act 1977 (c. 39), s. 8(7), Sch. 5 Pt. II

[^c703309]: Sch. 1 para 4 repealed by Coal Industry Act 1977 (c. 39), Sch. 5 Pt. I

[^key-cd229d981e1d5ce2f57a34aae2286402]: Sch. 2 repealed (27.3.2004) by Coal industry Act 1994 (c. 21), s. 68(3)(b), Sch. 11 Pt. IV; S.I. 2004/144, art. 3

[^key-2f956be03a323676b560742cd2ded542]: Ss. 11-14 repealed (27.3.2004) by Coal industry Act 1994 (c. 21), s. 68(3)(b), Sch. 11 Pt. IV; S.I. 2004/144, art. 3

[^key-0150d8db9e0d0424c11bf76057775d34]: S. 1 repealed (27.3.2004) by Coal industry Act 1994 (c. 21), s. 68(3)(b), Sch. 11 Pt. IV; S.I. 2004/144, art. 3

[^key-0fb1a005ffa64808c8f6209764562465]: S. 10 repealed (27.3.2004) by Coal industry Act 1994 (c. 21), s. 68(4), Sch. 11 Pt. III; S.I. 2004/144, art. 2, Sch.

[^key-60d21b7e7d43721bdd333c4ab32cb340]: S. 2 repealed (27.3.2004) by Coal industry Act 1994 (c. 21), s. 68(4), Sch. 11 Pt. III; S.I. 2004/144, art. 2, Sch.

[^key-ce2afd349b3bff71bfe67a1424613408]: Sch. 1 para. 1 repealed (27.3.2004) by Coal industry Act 1994 (c. 21), s. 68(3)(b), Sch. 11 Pt. IV; S.I. 2004/144, art. 3

[^key-d63678851b6ff6fc128069af4cc21d6f]: Sch. 1 para. 2 repealed (27.3.2004) by Coal industry Act 1994 (c. 21), s. 68(4), Sch. 11 Pt. III; S.I. 2004/144, art. 2, Sch.

[^key-33b1496047043829eec25d335b2559df]: Sch. 1 para. 3 repealed (27.3.2004) by Coal industry Act 1994 (c. 21), s. 68(4), Sch. 11 Pt. III; S.I. 2004/144, art. 2, Sch.