S.I. No. 48/1957:

DIVIDENDS OF GAS UNDERTAKERS ORDER, 1957.

DIVIDENDS OF GAS UNDERTAKERS ORDER, 1957.

I, WILLIAM NORTON, Minister for Industry and Commerce, in exercise of the powers conferred on me by Article 32 of the Emergency Powers Order, 1939 (S. R. & O. No. 224 of 1939), which Order is continued in force by the Supplies and Services (Temporary Provisions) Act, 1946 (No. 22 of 1946), hereby order as follows :--

1. This Order may be cited as the Dividends of Gas Undertakers Order, 1957.

2. In this Order--

the expression " gas undertakers " has the meaning assigned to it by section 3 of the Gas Regulation Act, 1928 (No. 24 of 1928) ;

the expression " the order under the Act of 1920 " means the order or orders under the Gas Regulation Act, 1920, applicable to the gas undertakers in question.

3. Every limitation which is imposed on any gas undertakers by the order under the Act of 1920 in relation to distributions by them of dividends on their ordinary paid-up capital, shall be relaxed to the following extent, that is to say : the said limitation shall not apply in relation to distributions such as aforesaid made during the period beginning on the 1st day of April, 1957, and ending on the 31st day of December, 1957.

GIVEN under my Official Seal this 11th day March, 1957.

(Signed) WILLIAM NORTON,

Minister for Industry and Commerce.

EXPLANATORY NOTE

This Order suspends the arrangement established pursuant to certain public and private Acts relating to the gas industry, whereby dividends of certain gas undertakings were restricted by reference to the charges for gas made by the undertakings.