# The Electricity Act 1989 (Scottish Nuclear Limited) Extinguishment of Loans Order 1990 S.I. 1990/394 · made 1 March 1990 This Order extinguishes the liability of Scottish Nuclear Limited in respect of the principal of certain loans made from the National Loans Fund. The total liability extinguished is £1,368,390,398. Made under: Electricity Act 1989 (Section 80) PDFs: Printed copy https://openlegislation.uk/electricity-act-1989-scottish-nuclear-limited-extinguishment-of-loans-order-1990/pdf/uksi_19900394_en.pdf ## Introductory text ELECTRICITY Made 1st March 1990 Laid before Parliament 9th March 1990 Coming into force 31st March 1990 The Secretary of State, in exercise of the powers conferred on him by section 80(1) of the Electricity Act 1989, and of all other powers enabling him in that behalf, hereby makes the following Order: ## 1 This Order may be cited as the Electricity Act 1989 (Scottish Nuclear Limited) Extinguishment of Loans Order 1990 and shall come into force on 31st March 1990 immediately after the vesting of property, rights and liabilities in successor companies effected by virtue of section 67(4) of the Electricity Act 1989. ## 2 Any liability of Scottish Nuclear Limited, being a successor company in Scotland wholly owned by the Crown, in respect of the principal of the relevant loans specified in the Schedule to this Order, being loans made from the National Loans Fund the liability to repay which vests in that company by virtue of section 67(4) of the Electricity Act 1989, is hereby extinguished. ## Signature Malcolm Rifkind One of Her Majesty’s Principal Secretaries of State St Andrew’s House, Edinburgh 1st March 1990 ## Specified Loans Dated Principal as at date of loan Principal outstanding as at 31st March 1990 Identification number £ £ 16.11.82 8,000,000 5,760,000 02182 23.11.82 8,000,000 5,760,000 02382 20.12.82 8,000,000 5,760,000 02582 22.12.82 8,000,000 5,760,000 02782 16.05.83 4,000,000 2,960,000 00183 31.05.83 4,000,000 2,960,000 00383 20.06.83 8,000,000 6,080,000 00583 11.07.83 8,000,000 5,920,000 00783 20.07.83 8,000,000 5,920,000 00983 16.08.83 5,600,000 4,144,000 01183 19.08.83 4,000,000 2,960,000 01383 22.08.83 8,000,000 5,920,000 01583 30.08.83 4,000,000 2,960,000 01783 31.08.83 4,000,000 2,960,000 01983 07.09.83 4,000,000 2,960,000 02183 20.09.83 4,000,000 2,960,000 02383 27.09.83 4,000,000 2,960,000 02583 04.10.83 4,000,000 3,040,000 02783 18.10.83 8,000,000 6,080,000 02983 16.11.83 8,000,000 6,080,000 03183 05.12.83 8,000,000 5,920,000 03383 19.12.83 16,000,000 12,160,000 03583 09.01.84 8,000,000 6,080,000 00184 17.01.84 16,000,000 12,160,000 00384 16.11.87 70,000,000 56,000,000 00187 15.12.87 10,000,000 8,000,000 00287 18.12.87 25,000,000 20,000,000 00387 15.01.88 50,000,000 40,000,000 00487 29.01.88 20,000,000 16,000,000 00587 15.02.88 15,000,000 12,000,000 00687 16.02.88 50,000,000 40,000,000 00787 17.02.88 45,000,000 36,000,000 00887 15.07.88 30,000,000 25,500,000 00188 15.08.88 60,000,000 51,000,000 00288 20.09.88 10,000,000 8,500,000 00388 22.09.88 30,000,000 25,500,000 00488 15.11.88 40,000,000 36,000,000 00588 29.11.88 40,000,000 36,000,000 00688 13.12.88 40,000,000 36,000,000 00788 10.01.89 40,000,000 36,000,000 00888 24.01.89 40,000,000 36,000,000 00988 14.02.89 35,000,000 31,500,000 01088 15.02.89 35,000,000 31,500,000 01188 10.07.89 25,000,000 24,152,002 00189 ER 10.07.89 20,000,000 19,192,487 00289 ER 14.07.89 75,000,000 75,000,000 00289 M 07.08.89 40,000,000 38,821,909 00389 ER 07.08.89 13,500,000 13,500,000 00389 M 07.08.89 12,500,000 12,500,000 00489 M 15.08.89 50,000,000 47,500,000 00189 25.08.89 20,000,000 20,000,000 00489 ER 29.08.89 20,000,000 20,000,000 00589 M 15.09.89 60,000,000 60,000,000 00789 M 15.09.89 30,000,000 30,000,000 00689 M 15.09.89 95,000,000 95,000,000 00889 M 11.10.89 40,000,000 40,000,000 00989 M 18.10.89 40,000,000 40,000,000 01189 M 25.10.89 40,000,000 40,000,000 01289 M 06.11.89 50,000,000 50,000,000 00589 ER 15.11.89 35,000,000 35,000,000 00289 Total £1,368,390,398 ## Explanatory note (This Note is not part of the Order) This Order extinguishes the liability of Scottish Nuclear Limited in respect of the principal of certain loans made from the National Loans Fund. The total liability extinguished is £1,368,390,398. These loans were made to the South of Scotland Electricity Board. The liability to repay them is comprised in the property, rights and liabilities of the Board which on 31st March 1990, the appointed transfer date, vest under Section 67(4) of the Electricity Act 1989 in Scottish Nuclear Limited, one of the nominated successor companies, having been allocated to that company by a transfer scheme made under Section 67(1). The liability to repay the loans thus vests in Scottish Nuclear Limited so that the loans are “relevant loans” for the purposes of Section 80 of the Electricity Act 1989 and liability can be extinguished by order under that Section. The extinguishment is effected on 31st March 1990 immediately after vesting in Scottish Nuclear Limited. The Electricity Act 1989 (Nominated Companies) (Scotland) Order 1989 (SI 1989/2448) nominated the successor companies. The Electricity Act 1989 (Transfer Date) (Scotland) Order 1990 (SI 1990/197) fixed the transfer date. The South of Scotland Electricity Board Transfer Scheme was made on 31st January 1990 and approved with modification by the Secretary of State on 27th February 1990. --- Source: https://www.legislation.gov.uk/uksi/1990/394 (the official version) Page: https://openlegislation.uk/electricity-act-1989-scottish-nuclear-limited-extinguishment-of-loans-order-1990 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.