{
  "url": "https://openlegislation.uk/area-boards-payments-for-use-of-tax-losses-order-1990/note",
  "json_url": "https://openlegislation.uk/area-boards-payments-for-use-of-tax-losses-order-1990/note.json",
  "legislation": "uksi/1990/267",
  "legislation_title": "The Area Boards (Payments for Use of Tax Losses) Order 1990",
  "legislation_url": "https://openlegislation.uk/area-boards-payments-for-use-of-tax-losses-order-1990",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order contains directions by the Secretary of State to the Area Electricity Boards in England and Wales to pay certain sums to the Central Electricity Generating Board. Payment of these sums will, broadly, leave the Area Boards in the same financial position as they would have been if each Board been taxed separately.\nArticle 3 directs each Area Board to pay the sum specified against its name in the Table to the Generating Board not later than 20th March 1990.\nArticle 4 directs each Area Board to pay further sums in respect of accounting periods ending before the transfer date, if the profits and losses of the Board (as ascertained for the purposes of corporation tax) relating to the accounting period in question are increased as a result of relevant event (as defined in article 2). Article 5 specifies when the further sums are to be paid. Article 6 directs that interest be added to payments made pursuant to article 4.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1990/267/note",
    "retrieved_at": "2026-10-29T15:27:50.096218+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}