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.’
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.
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