The United Kingdom Atomic Energy Authority (Extinguishment of Liabilities) Order 1996

• Citation: S.I. 1996/2511
• Sections: 2

Section 1 Citation, commencement and interpretation

(1) This Order may be cited as the United Kingdom Atomic Energy Authority (Extinguishment of Liabilities) Order 1996 and shall come into force on 4th October 1996.

(2) In this Order:

(a) “commencing capital debt” means the Authority’s commencing capital debt under section 1 of the Atomic Energy Authority Act 1986 (of an amount specified by a notice given by the Secretary of State and dated 26th March 1986), which, by virtue of section 1(2) of that Act, is deemed to have been assumed by the Authority on 1st April 1986; and

(b) “loans” means relevant loans within section 10(12)(a) of the Atomic Energy Authority Act 1995.

Section 2 Extinguishment of liabilities

(1) The liabilities of the Authority in respect of the principal of the loans mentioned in paragraph (2) below are hereby extinguished.

(2) The loans referred to in paragraph (1) above are the loans of the amounts specified in column (1) of the Schedule hereto, which (except in the case of commencing capital debt) were respectively granted on the dates specified in column (2) of that Schedule, and in respect of which the amount (in respect of principal) which remains to be repaid immediately before the coming into force of this Order is respectively specified in column (3) of that Schedule.