Oman - Recent economic developments and prospects
Subject to the provisions of this section, the Secretary of State may by order direct, in the case of any of the bodies corporate specified in Schedule 1 to this Act, the payment by him to that body of such amount as may be specified by the order by way of compensation for financial losses which it may, in either of its years 1974-75 or 1975-76, have incurred in consequence of compliance with the national policy relating to limitation of prices.
The Treasury may by order direct that this section shall take effect with the substitution for the words " either of its years 1974-75 or 1975-76 " of the words "any of its years 1974-75, 1975-76 or 1976-77 ".
The amount so specified for any year of a body corporate shall not exceed the deficit on the body's revenue account for that year.
If it appears to the Secretary of State, in the case of any of those bodies corporate, that it is incurring in its current year, or has incurred in its year last ended, such losses as are likely to justify the making of an order under subsection (1) above, he may (subject to subsections (7) and (8) below) make one or more payments to that body by way of advance on the payment which, if an order is made, will be due to the body under the order.
If the Secretary of State determines not to make such an order, the body corporate shall repay to the Secretary of State the total of any advances made to it under subsection (4) in respect of that year; and if an order is made in its case specifying (as compensation for losses of that year) an amount less than that total, it shall repay to him the difference; and any repayment required by this subsection shall be made with interest at such rate as the Secretary of State may determine.
The whole or any part of a payment falling to be made to a body corporate by virtue of an order under subsection (1) above may be made with interest at such rate or rates and in respect of such period or periods as the Secretary of State may determine.
The Treasury's approval shall be required—
for the making of an order under subsection (1) above ;
for the making of any payment by way of advance under subsection (4);
for the determination by the Secretary of State of a rate of interest under subsection (5); and
for the payment of interest under subsection (6), and for any determination by the Secretary of State of the rate or rates of interest or the period or periods in respect of which it is to be paid.
No order shall be made under subsection (1) above in the case of a body corporate, and no payment shall be made to a body corporate by way of advance under subsection (4), except after consultation with that body.
Orders under this section shall be made by statutory instrument; and the power to make an order (whether a power of the Secretary of State under subsection (1) or of the Treasury under subsection (2)) shall not be exercisable unless a draft of a statutory instrument containing it has been laid before the House of Commons and approved by a resolution of that House.
In this section "year" means financial year.
Section 2 of the Statutory Corporations (Financial Provisions) Act 1974 (which, so far as not spent, is replaced by this section) shall cease to have effect.
Any payment to a body corporate under or by virtue of section 1 above shall be made out of money provided by Parliament and shall be treated as being for the credit of the body's revenue account.
Any sums repaid to the Secretary of State under section 1(5) (including any interest) shall be paid into the Consolidated Fund.
In determining for the purposes of section 1 whether in the case of a body corporate there is or was a deficit on its revenue account for a financial year, and in determining the amount of the deficit, no account shall be taken of any payment made or to be made under or by virtue of that section (whether a payment by the Secretary of State or by a body corporate), except a payment of interest by the Secretary of State under subsection (6) of the section.
For the purposes of applying section 1 to the Post Office, each of the branches of the Post Office's undertaking relating respectively to— shall be treated as if it were a separate undertaking; and references to financial loss incurred, or to a deficit on revenue account, shall be construed accordingly.
the provision of postal services,
the provision of telecommunication services,
the provision of such services as are mentioned in section 7(1)(b) of the Post Office Act 1969 (banking, giro and related services), and
the provision of data processing services,
In the case of any of the bodies corporate specified in Schedule 2 to this Act, its power to borrow money in a currency other than sterling shall not be subject to any statutory restriction as to the persons from whom, or the terms on which, it may borrow; but the power shall be exercisable only with the consent of the Secretary of State and that consent shall require the Treasury’s approval.
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Part II of that Schedule has effect for the amendment of Schedule 3 to the Gas Act 1972 in respect of various financial and administrative matters concerning the National and Regional Gas Consumers’ Councils.
Payments under Part I of Schedule 3 to this Act to or in respect of the chairman of the Councils there mentioned, and also payments under paragraph 1 of Schedule 3 to the Gas Act 1972— shall be made by the Secretary of State out of money provided by Parliament; and any expenditure incurred by the Secretary of State in providing funds to Councils under Part I of Schedule 3 to this Act, or under Schedule 3 to the Gas Act 1972, or otherwise under those Schedules, shall be defrayed out of money so provided.
in respect of remuneration of the chairman of any of the Consumers’ Councils mentioned in that Schedule; or
in respect of the chairman’s pension or otherwise under paragraph 1(3) of that Schedule,
The enactments specified in Schedule 4 to this Act shall have effect with the amendments there specified, being amendments required in consequence of this Act and other minor amendments.
The enactments specified in Schedule 5 to this Act (which include certain spent provisions and minor provisions which are no longer required) are hereby repealed to the extent specified in the third column of that Schedule.
Except in so far as the context otherwise requires, any reference in this Act to an enactment shall be construed as a reference to that enactment as amended or extended by any other enactment, including this Act.
This Act may be cited as the Statutory Corporations (Financial Provisions) Act 1975.
Section 5(1). . . . The Housing Corporation. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 6.
This Part of this Schedule applies to the Consultative Councils established—
under section 7 of the Electricity Act 1947 for the areas of Area Boards; and
under section 7A of that Act, for the districts of the North of Scotland Hydro-Electric Board and the South of Scotland Electricity Board.
There shall be paid to the chairman of a Council such remuneration as the Secretary of State may determine; and in the case of a person remunerated under this paragraph there shall be no obligation to remunerate him also—
under paragraph 14 of Schedule 1 to the Hydro-Electric Development (Scotland) Act 1943, as a member of the North of Scotland Hydro-Electric Board or the South of Scotland Electricity Board; or
under section 3(6) of the Electricity Act 1947, as a member of the Area Board for the same area as that for which he is chairman of the Consultative Council.
If the Secretary of State so determines in the case of a person who has been remunerated under paragraph 2 above, he shall pay such pension to or in respect of that person, or make such payments towards the provision of such a pension, as he (the Secretary of State) may determine.
If a person in receipt of remuneration under that paragraph ceases to hold the office by virtue of which he receives it, and it appears to the Secretary of State that there are special circumstances which make it right that that person should receive compensation, that person shall be paid a sum of such amount as the Secretary of State may determine.
In Part III of Schedule 1 to the House of Commons Disqualification Act 1975, the following shall be inserted at the appropriate place in alphabetical order— “ Chairman of any of the Consultative Councils established under sections 7 and 7A of the Electricity Act 1947, for the areas of Area Boards or the districts of the North of Scotland Hydro-Electric Board and the South of Scotland Electricity Board. ”
A Council may, subject to the approval of the Secretary of State as to numbers, appoint such officers as appear to the Council to be requisite for the performance of their functions, including those of any committee or individual appointed under section 7(9) or 7A(8) of the Electricity Act 1947 (scheme for Council’s representation at local level).
The Secretary of State shall provide the Councils with funds wherewith to pay— as the Secretary of State may determine, and wherewith also to defray such other expenses in connection with their functions as he may determine to be appropriate; and he may make arrangements for Councils to be provided with office accommodation.
to their members, and to members of any such committee, or to any such individual, as is mentioned above such travelling and other allowances; and
to the officers of a Council, such remuneration, and such travelling and other allowances,
There shall be paid such pensions, or arrangements shall be made for the payment of such pensions, to or in respect of persons who are or have been officers of Consultative Councils as the Secretary of State may determine. A Consultative Council may, if the Secretary of State determines that they should do so, assume in respect of such persons as are referred to in sub-paragraph (1) above any liabilities incurred by the Electricity Council, an Area Board, the North of Scotland Hydro-Electric Board or the South of Scotland Electricity Board (as the case may be) under or in pursuance of section 54 of the Electricity Act 1947. The Secretary of State shall provide Consultative Councils with funds wherewith to pay pensions under sub-paragraph (1) above or to finance any arrangements under that sub-paragraph, and to discharge any liabilities assumed by Councils under sub-paragraph (2).
The consent of the Minister for the Civil Service shall be required for any determination or approval by the Secretary of State under the foregoing paragraphs. In this Part of this Schedule “pension” includes allowance and gratuity payable on retirement or otherwise.
Schedule 3 to the Gas Act 1972 is amended in accordance with the following paragraphs.
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In paragraph 2 of the Schedule—
Any of the said Councils may, if the Secretary of State determines that they should do so, assume in respect of any such persons as are referred to in sub-paragraph (2) above any liabilities incurred by the Corporation under or in pursuance of section 36(1) of this Act
The Secretary of State may make arrangements for Councils to be provided with office accommodation
For paragraph 3 of the Schedule substitute—.
In paragraph 7 of the Schedule for " the Corporation " substitute " the Secretary of State ".
Section 7(1)
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in subsection (1), for the words from the beginning to " money" substitute the words " Subject to the provisions of this section, the Scottish Electricity Boards may, with the consent of the Secretary of State (which shall require the approval of the Treasury) and subject to regulations to be made by the Secretary of State with the approval of the Treasury, borrow money in sterling or foreign currency from any source whether within or outwith the United Kingdom, ";
at the end of the section add the following subsections—.
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in section 19(2A) (inserted by section 7(1) of the Iron and Steel Act 1969) for the words " may, from such person and on such terms as he may, with the approval of the Treasury, specify " substitute the words " (which shall require the approval of the Treasury) may ";
in section 19(3) (as substituted by section 7(2) of the Iron and Steel Act 1969), in paragraph (b), for the words " from such person and on such terms as the Minister may, with the approval of the Treasury, specify " substitute the words " (which shall require the approval of the Treasury) ".
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in section 2(1), for the words " borrow, from such persons and on such terms as the Minister may, with the approval of the Treasury, from time to time specify " substitute the words " with the consent of the Secretary of State (which shall require the approval of the Treasury), borrow ";
in section 2(3) after " guarantees)" insert " and section ".
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In the Civil Aviation Act 1971—
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Section 7(2) Chapter Short Title Extent of Repeal 10 & 11 Geo. 6. c.54. Electricity Act 1947. In section 7, subsections (10), (11) and (11A). in section 7A, subsections 7A, subsections (9), (10) and (11). 2 7 3 Eliz. 2. c.60. Electricity Reorganisation (Scotland) Act 1954. In Part I of Schedule 1, the specific adaptation of section 12 of the Hydro-Electric Developement (Scotland) Act 1943. 1967 c.33. Air Corporations Act 1967. In section 10(3) the word “temporary” (in paragraph (b)), and paragraph (c). 1968 c.39. Gas and Electricity Act 1968. In section 2(3) the words “and 19 (central guarantee fund)”. Section 3. 1971 c.75. Civil Aviation Act 1971. In section 8, in subsection (3) the words “from such persons and on such terms as the Secretary of State may from time to time specify” ; and in subsection (4) the words “or specify any person or terms”. In section 41(5), the words “or specify any person or terms”. 1972 c.12. Iron and Steel Act 1972. Section 1 (3) 1972 c.60. Gas Act 1972. In Schedule 3, in paragraph 1, the words “with the consent of the Minister of the Civil Service”, wherever they occur. 1974 c.8. Statutory Corporations (Financial Provisions) Act 1974. Sections 1 to 3. Section 5(1). Schedule 1. Section 5(1) Schedule 1. In Schedule 2, in paragraph 2, the amendments of section 12(1) of the Hydro-Electric Developement (Scotland) Act 1943 and section 3 of the Gas and Electricity Act 1968.