Part of the debate – in the House of Commons am ar 25 Gorffennaf 1922.
(1) For the purposes hereinafter mentioned a joint electricity authority may, with the consent of the Electricity Commissioners, and subject to Regulations to be made by the Minister of Transport with the approval of the Treasury, borrow money, in such manner and subject to such provisions as to the repayment thereof, and with such powers as to reborrowing for the purpose of paying off a loan previously raised, as may be prescribed by the Regulations, and such Regulations may empower a joint electricity authority to borrow temporarily, to issue bonds and to make arrangements with hankers, and may apply with or without modifications any enactments relating to borrowing by local authorities, including provisions as to the enforcement of the security by the appointment of a receiver or otherwise.