Statutory Instrument 1989 No. 573

The Coal Industry (Restructuring Grants) Order 1989

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© Crown Copyright 1989

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1989 No. 573

COAL INDUSTRY

The Coal Industry (Restructuring Grants) Order 1989

The Secretary of State, in exercise of the powers conferred on him by section 3(2)(a), (3), (4)(a) and (6) of the Coal Industry Act 1987^[1] and with the approval of the Treasury, hereby makes the following Order, a draft of which has been laid before the House of Commons and has been approved by that House in accordance with section 3(10) of that Act:

    1.    This Order may be cited as the Coal Industry (Restructuring Grants) Order 1989 and shall come into force on the third day after the day on which it is made.

    2.    In this Order, unless the context otherwise requires-

"the 1989/90 financial year" means the financial year of the British Coal Corporation ending in March 1990;

"the Act" means the Coal Industry Act 1987;

"the Corporation" means the British Coal Corporation or any wholly-owned subsidiary of theirs;

"employees" means employees of the Corporation;

"payments" means periodical or lump sum payments;

"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^[2] for the 1989/90 financial year;

and references to payments, contributions or expenditure are references to payments, contributions or expenditure by the Corporation.

    3.    The 1989/90 financial year shall be a specified financial year for the purposes of section 3(4)(a) of the Act.

    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 1989/90 financial year.

    5.    The maximum amount which may be paid under section 3 of the Act by way of grant in respect of the 1989/90 financial year in relation to the kinds of expenditure specified under a Head in the Schedule is that sum which represents 77 per cent. of-
 (a) the total amount of the costs of the Corporation 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.

    6.    The limit specified in section 3(6) of the Act on the aggregate of grants under section 3(1) thereof is increased from £500 million to £750 million.

Michael Spicer

Parliamentary Under Secretary of State, Department of Energy

23rd March 1989
We approve,

David Maclean

Kenneth Carlisle

Two of the Lords Commissioners of Her Majesty's Treasury

23rd March 1989

[1] 1987 c. 3; the limit specified in section 3(6) was increased to £500 million by S.I. 1988/456. back

[2] 1971 c. 16. back

Explanatory Note