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Coal Industry Nationalisation Act 1946

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This is the original version (as it was originally enacted).

30Application of surplus revenues of the Board

Any excess of the Board's revenues for any financial year of the Board over their outgoings for that year properly chargeable to revenue account (including, without prejudice to the generality of that expression, provisions in respect of their obligations under the two last preceding sections) shall be applied for such purposes as the Board may determine :

Provided that—

(a)no part of any such excess shall be applied otherwise than for purposes of the Board ; and

(b)the power of the Minister to give directions to the Board shall extend to the giving to them, with the approval of the Treasury, of directions as to the application of any such excess, notwithstanding that the directions may be of a specific character.

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