Section 1 Commencing capital debt.

The United Kingdom Atomic Energy Authority shall, in respect of their net assets on 1st April 1986, assume a debt due to the Secretary of State (their commencing capital debt) of such amount as the Secretary of State, after consulting the Authority, may with the approval of the Treasury specify by notice in writing.

The commencing capital debt of the Authority shall be deemed to have been assumed by them on 1st April 1986 and a sum equal to the amount of that debt shall be deemed to have been issued to the Secretary of State out of the National Loans Fund on that date.