Orders of the Day — Channel Tunnel Bill

Part of the debate – in the House of Commons am 12:00 am ar 5 Rhagfyr 1973.

Danfonwch hysbysiad imi am ddadleuon fel hyn

The obligations which would arise on abandonment will vary both with the circumstances of the abandonment and with the stage reached in the project. In the event of abandonment by the companies or by the Governments and companies jointly, the Governments would have to meet the outstanding guarantees under Clause 6, but no expenditure would have to be made under Clause 8 except for the obligations in a joint abandonment to purchase the companies' interests at net cost plus interest if the Governments decide to build a rail tunnel without them, or relevant parts of their interests if they proceed with another form of tunnel. This is in paragraph 6.2.5. of Agreement No. 2. Half price would be paid in the event of the Governments proceeding after a companies' abandonment, and for the option to purchase those interests following a joint abandonment whether or not they go ahead. This is in paragraph 6.2.7.