The Electricity Act 1989 (Scottish Hydro-Electric plc) Extinguishment of Loans Order 1991

• Citation: S.I. 1991/853
• Sections: 4

Section 1

This Order may he cited as the Electricity Act 1989 (Scottish Hydro-Electric plc) Extinguishment of Loans Order 1991 and shall come into force on 29th April 1991.

Section 2

Any liability of Scottish Hydro-Electric plc, being a successor company in Scotland wholly owned by the Crown, in respect of the principalof the relevant loans specified in the Schedule to this Order, comprising—

(a) loans made from the National Loans Fund the liability to repay which vested in that company by virtue of section 67(4) of the Electricity Act 1989, and

(b) a loan made to that company by the Secretary of State under section 78 of that Act,

is hereby extinguished.

A

LOANS LIABILITY TO REPAY WHICH VESTED IN SCOTTISH HYDRO-ELECTRIC PLC BY VIRTUE OF SECTION 67(4) OF THE ELECTRICITY ACT 1989

B

LOAN MADE TO SCOTTISH HYDRO-ELECTR1C PLC UNDER SECTION 78 OF THE ELECTRICITY ACT 1989