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Q What are the capital liabilities of the Transport Holding Company?

9th February 1968, Page 59
9th February 1968
Page 59
Page 59, 9th February 1968 — Q What are the capital liabilities of the Transport Holding Company?
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Which of the following most accurately describes the problem?

AUnder the provisions of the Transport

Act 1 962 the THC assumed, on the transfer to it of certain property, rights and liabilities of the British Transport Commission, a capital liability to the Minister of Transport referred to as the Commencing Capital Debt. Under Section 39 (6) of the Act the Minister, with the approval of the Treasury, has directed that interest be paid on this Debt at the rate of 3.11 per cent per annum and that the principal be payable by annual instalments from 1 975 to 1986.

On January 10 1966 the Minister made a loan of £10m to the TI-IC and directed that interest should be paid on this loan at 6+ per cent per annum and that the principal should be repaid on October 1 1976.