Petroleum and Submarine Pipe-lines Act 1975 (repealed 15/02/1999)
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Change 1
43 Payments in respect of Burmah Oil Co. Ltd.
(1) The Secretary of State may, out of money provided by Parliament, pay to the Bank of England (hereafter in this section referred to as “the Bank”) such sums, not exceeding in the aggregate £350 million, as may be needed, in pursuance of arrangements made between the Secretary of State and the Bank, for the purpose of making good any losses sustained by the Bank in consequence of guarantees given by the Bank in respect of loans to the Burmah Oil Company Limited or any of that Company’s subsidiaries or in consequence of loans made by the Bank to that Company or any of its subsidiaries.
43 Payments in respect of Burmah Oil Co. Ltd.
(1) The Secretary of State may, out of money provided by Parliament, pay to the Bank of England (hereafter in this section referred to as “the Bank”) such sums, not exceeding in the aggregate £350 million, as may be needed, in pursuance of arrangements made between the Secretary of State and the Bank, for the purpose of making good any losses sustained by the Bank in consequence of guarantees given by the Bank in respect of loans to the Burmah Oil Company Limited or any of that Company’s subsidiaries or in consequence of loans made by the Bank to that Company or any of its subsidiaries.
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