42Provisions as to electricity undertakings.
(1)The Central Electricity Board shall have, and be deemed always to have had, power, with the approval of the Electricity Commissioners—
(a)to acquire, store, insure and maintain stocks of any such plant and equipment (including wires and cables) as is used for the purpose of transmitting, transforming or distributing electricity, with a view to those stocks being made available for temporary use by the Board or any other electricity undertakers in the event of damage consequent upon hostile attack;
(b)to make arrangements for the distribution of any such plant and equipment in that event; and
(c)to acquire any land, acquire, insure, and maintain any other property, and do any thing, necessary or expedient for any of the purposes aforesaid.
(2)The Central Electricity Board shall defray any approved expenses incurred, whether before or after the passing of this Act, by any other electricity undertakers in taking measures for securing the due functioning of their undertaking in the event of hostile attack, and there may be paid out of moneys provided by Parliament to the Central Electricity Board towards—
(a)the expenses incurred by the Board under the preceding provisions of this subsection; and
(b)the approved expenses of the Board incurred, whether before or after the passing of this Act, on the measures mentioned in subsection (1) of this section; and
(c)the approved expenses of the Board incurred, whether before or after the passing of this Act, on measures to secure the due functioning of their own undertaking in the event of hostile attack;
grants not exceeding one-half of those expenses.
In this subsection the expression " approved expenses " means such expenses of a capital nature, incurred on such measures, as the Electricity Commissioners, acting in accordance with general directions of the Treasury, may approve for the purposes of this subsection.
(3)The provisions of Part I of the First Schedule to this Act shall have effect with respect to the financing of certain expenditure of the Central Electricity Board under this Part of this Act and that Schedule and the distribution of the burden of that expenditure among the various electricity undertakers (including the Central Electricity Board), the provisions of Part II of that Schedule shall have effect with respect to the disposal of the property acquired by the Central Electricity Board under subsection (1) of this section and the provisions of Part III thereof shall have effect with respect to certain related matters. In the said Schedule, the expression " the principal section " means this section.