The Electricity Act 1989 (Scottish Nuclear Limited) Extinguishment of Loans Order 1990

• Citation: S.I. 1990/394
• Sections: 2

Section 1

This Order may be cited as the Electricity Act 1989 (Scottish Nuclear Limited) Extinguishment of Loans Order 1990 and shall come into force on 31st March 1990 immediately after the vesting of property, rights and liabilities in successor companies effected by virtue of section 67(4) of the Electricity Act 1989.

Section 2

Any liability of Scottish Nuclear Limited, being a successor company in Scotland wholly owned by the Crown, in respect of the principal of the relevant loans specified in the Schedule to this Order, being loans made from the National Loans Fund the liability to repay which vests in that company by virtue of section 67(4) of the Electricity Act 1989, is hereby extinguished.