Act of Parliament | |
Long title | An Act to raise the financial limit imposed by and by virtue of section 29(1) of the Electricity (Scotland) Act 1979. |
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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Repealed | 31 March 1990 |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 | |
Repealed by | Electricity Act 1989 |
Status: Repealed |
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.
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]
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.’
The Act comprised two Sections: [1]
The effects of the Act were: [1]
The Act was repealed by the Electricity Act 1989 (Schedule 18) [2]