CAB129-53 — Page 36

& 16 GEO. 6

Transport

Page 36

15.

5

10

& 1 ELIZ. 2

(b) if, on a revision of the estimate or the determination, it A.D. 1952

appears that too little or too much has been paid, the subsequent instalments shall be adjusted as the Minister may direct in order to make good the excess or deficiency..

(2) The Minister shall-

(a) in making or revising any such estimate as aforesaid, consult with the auditor or auditors of the Commission who shall furnish him with such information and certificates as he may require :

(b) in determining the period over which the instalments are to be paid and in revising any determination thereof, act with the approval of the Treasury.

(3) If, at any time, whether before or after the end of the 15 transitional period, the Transport Fund is for the time being more than sufficient to make all the payments which have become due to be paid therefrom, such sum, if any, as the Minister may direct shall be paid therefrom to the Commission, and where any payment is made under this subsection, the total 20 amount falling to be paid under subsection (1) of this section shall be deemed to be reduced by the amount of the payment and the said total amount shall be estimated or re-estimated accordingly.

(4) In this section "the road haulage capital loss " means the 25 amount by which the aggregate of the prices at which property is sold under section three or subsection (1) or subsection (2) of section five of this Act falls short of the sum of the following amounts, that is to say—

30

35

40.

(a) the aggregate net value of that property as at the times of the respective sales, as shown in the books of the Commission but adjusted so as to take into account depreciation up to the time of the sale so far as not already taken into account; and

(b) the expenses incurred by the Commission in connection with those sales, so far as not included in the sums shown in the books of the Commission as expenses deductible in computing the sums shown therein as net traffic receipts; and

(c) so much of the sums shown in the books of the Com- mission as goodwill as is properly ascribable to the existing road haulage undertaking:

Provided that, if any property held by the Commission for the purposes of the existing road haulage undertaking is trans- ferred by them to a company under section four of this Act, 45 or is retained by them under section five of this Act, the amount

163

C

Page 36

Page 36

36