Explanatory note

Section 20 of the Coal Industry Act 1994 (c. 21) gives the Secretary of State power by order (with the consent of the Treasury) to extinguish the liabilities of the British Coal Corporation (“the Corporation”) to make repayments of capital and payments of interest in respect of sums lent to the Corporation out of money provided by Parliament. This Order extinguishes the liabilities of the Corporation to make repayments of capital of £1,598,400,000 and payments of interest of £34,466,803.