CAB129-53 — Page 39

A.D. 1952

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Transport

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15 & 16 GEO. 6

& 1 ELIZ. 2

Where the Minister lays before Parliament such a statement as aforesaid, the reference in the proviso to subsection (2) of this section to the conclusions of the permanent members of the Tribunal shall, as respects the loss in question, be construed as a reference to their conclusions modified to such extent as may 5 be necessary to give effect to the conclusions of the Minister set out in his statement.

""

(5) In this section "net railway revenue means, in relation to any period, the gross revenue arising to the Commission for that period from the operation of their railways less sums properly 10 chargeable to revenue account for that period as expenses of the operation thereof, and the references to a loss of net railway revenue caused to the Commission shall be construed as refer- ences to the amount by which the net railway revenue of the Commission falls short of what would have been their net railway revenue but for the operation of the cause in question:

15

Provided that if the gross revenue arising to the Commission for any period from the operation of their railways is less than the sums properly chargeable to revenue account for that period as expenses of the operation thereof, there shall be deemed to 20 be net railway revenue for that period of a negative amount equal to the difference, and the losses of net railway revenue shall be calculated accordingly..

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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 which have been diverted by the Commission to other uses or from the proceeds, or property representing the proceeds, of 30 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 Commission at such times as the Minister may direct on so much of any amount payable under subsection (4) of this section 35 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 40

for the carriage of goods for or in connection with any trade or business carried on by him.

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