The Coal Industry (Restructuring Grants) Order 1990

• Citation: S.I. 1990/1411
• Sections: 5

Section 1

This Order may be cited as the Coal Industry (Restructuring Grants) Order 1990 and shall come into force on the third day after the day on which it is made.

Section 2

In this Order, unless the context otherwise requires —

“the 1990/91 financial year ” means the financial year of the British Coal Corporation ending in March 1991;

“ the Act ” means the Coal Industry Act 1987;

“employees” means employees of a relevant company;

“payments” means periodical or lump sum payments;

“relevant company” means the British Coal Corporation or any wholly-owned subsidiary of theirs and the expression “relevant companies” shall be construed accordingly;

“the relevant consolidated profit and loss account” means any consolidated profit and loss account of the British Coal Corporation and their subsidiaries prepared in accordance with a direction given under section 8(1) of the Coal Industry Act 1971 the 1990/91 financial year;

and references to payments, contributions or expenditure are references to payments, contributions or expenditure by a relevant company.

Section 3

The 1990/91 financial year shall be a specified financial year for the purposes of section 3(4)(a) of the Act.

Section 4

The kinds of expenditure specified in the Schedule to this Order shall be specified kinds of expenditure for the purposes of section 3(2)(a) of the Act in relation to the 1990/91 financial year.

Section 5

The maximum amount which may be paid under section 3 of the Act by way of grant in respect of the 1990/91 financial year in relation to the kinds of expenditure specified under a Head in the Schedule is that sum which represents 90 per cent. of —

(a) the total amount of the costs of the relevant companies which are related to the kinds of expenditure specified under the Head and which fall to be charged to the relevant consolidated profit and loss account; or

(b) if a larger amount has been agreed in respect of those costs for the purposes of section 3(2)(b) of the Act, that larger amount.