CAB129-53 — Page 143

A.D. 1952

Supplemental

20

Transport

Page 143

15 & 16 GEO. 6

& 1 ELIZ. 2

References in this subsection to the gross revenue arising to the Commission from the operation of their railways shall be deemed to include references to such sums, if any, as properly represent the annual value obtained by the Commission from capital assets formerly used for the operation of their railways 5 which have been diverted by the Commission to other uses or from the proceeds, or property representing the proceeds, of capital assets formerly so used which have been sold or otherwise realised by the Commission.

(6) Interest shall be paid out of the Transport Fund to the 10 Commission at such times as the Minister may direct on so much of any amount payable under subsection (4) of this section as has become due and is unpaid.

(7) Any reference in this section to the provision of services for the carriage of goods by road includes a reference-

(a) to the provision of such services by the Commission ; and (b) to the provision of facilities by the holder of a C licence for the carriage of goods for or in connection with any trade or business carried on by him.

15

(8) The references in this section to the operation of the Com- 20 mission's railways do not include references to the collection or delivery of goods carried or to be carried thereon.

14. (1) In this section and in the three last preceding

provisions as to sections- three last preceding sections.

"the transitional period means the period beginning with 25

the first day of January, nineteen hundred and fifty- three, and ending at the end of the year in which section fifty-two of the Transport Act, 1947, ceases to have effect;

Cs

"" year means a period of twelve months beginning with 30

the first day of January.

(2) Any reference in this or the two last preceding sections to interest shall be construed as a reference to interest at such rate as may from time to time be fixed by directions of the Treasury, and the rate fixed by any such direction shall be such 35 as would in the opinion of the Treasury be appropriate for securities the principal of which and the interest on which was charged on the Consolidated Fund of the United Kingdom or the growing produce thereof, being securities issued at par at the time when the direction was given and redeemable twenty 40 years after their issue.

(3) If at any time the Transport Fund is insufficient to make all the payments which have become due to be paid therefrom, the payments shall be made as soon as the Fund becomes

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:

15 &