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The Coal Industry (Restructuring Grants) Order 1988

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Explanatory Note

(This note is not part of the Order)

This Order concerns the making of grants by the Secretary of State to the British Coal Corporation under section 3 of the Coal Industry Act 1987 (grants for workforce redeployment and reduction, etc.).

Article 3 provides for the kinds of expenditure specified in the Schedule to the Order to rank as eligible expenditure of the Corporation and their wholly-owned subsidiaries in relation to the Corporation’s financial year ending in March 1989.

Article 4 sets a limit on the amount which may be advanced in relation to the Corporation’s 1988/89 financial year with respect to each head of expenditure specified in the Schedule. In general the limit is 72.5 per cent. of the relevant costs appearing in the consolidated profit and loss account or 72.5 per cent. of such larger amount as may be agreed by the Secretary of State and the Corporation with the approval of the Treasury.

Article 5 increases the limit on the aggregate amount of grants which may be made under section 3 of the 1987 Act from £300 million to £500 million.

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