Electricity (Financial Provisions) (Scotland) Act 1988

Electricity (Financial Provisions) (Scotland) Act 1988

Act of Parliament
Parliament of the United Kingdom
Long title	An Act to raise the financial limit imposed by and by virtue of section 29(1) of the Electricity (Scotland) Act 1979.
Citation	1988 c. 37
Introduced by	Lord Sanderson of Bowden on 27 July 1988 (Second Reading) (Lords)
Territorial extent	Scotland
Dates
Royal assent	29 July 1988
Repealed	31 March 1990
Other legislation
Repeals/revokes	Electricity (Financial Provisions) (Scotland) Act 1982 section 40(5) of the Electricity (Scotland) Act 1979
Repealed by	Electricity Act 1989
Status: Repealed
Text of statute as originally enacted

The Electricity (Financial Provisions) (Scotland) Act 1988 (c. 37) is an Act of the Parliament of the United Kingdom which raised the financial limit of Scottish electricity boards imposed by earlier legislation.

Background

Section 29(1) of the Electricity (Scotland) Act 1979 imposed a limit of £2,300 million on stocks, loans and financial advances held by the Scottish electricity boards.[1] This limit was increased to £2,700 million by Statutory Instrument 1985/1253 Electricity (Borrowing Powers) (Scotland) Order 1985.[1]

The present Act increases this limit to £3,000 million.[1]

Electricity (Financial Provisions) (Scotland) Act 1988

The Electricity (Financial Provisions) (Scotland) Act 1988, received royal assent on 29 July 1988. Its long title is ‘An Act to raise the financial limit imposed by and by virtue of section 29(1) of the Electricity (Scotland) Act 1979.’

Provisions

The Act comprised two Sections:[1]

• Section 1 Limit on borrowing etc. of the Scottish Electricity Boards. Increases the financial limit on stocks held and borrowing to £3,000 million, repeals the Electricity (Financial Provisions) (Scotland) Act 1982 and section 40(5) of the Electricity (Scotland) Act 1979.
• Section 2 Short title and extent. The Act extends only to Scotland.

Effects of the Act

The effects of the Act were:[1]

• Increased the financial limit on borrowing of the Scottish electricity boards to £3,000 million,
• Repealed the Electricity (Financial Provisions) (Scotland) Act 1982,
• Repealed section 40(5) of the Electricity (Scotland) Act 1979.

Repeal

The Act was repealed by the Electricity Act 1989 (Schedule 18) [2]

See also

• Timeline of the UK electricity supply industry

References

1. "Electricity (Financial Provisions) (Scotland) Act 1988". www.legislation.gov.uk. Archived from the original on 17 October 2010. Retrieved 17 January 2022.
2. "Electricity Act 1989". www.legislation.gov.uk. Archived from the original on 16 November 2010. Retrieved 17 January 2022.