It raised the amounts to a limit likely to be reached in about three years which would provide an opportunity for Parliament to review the progress of each industry at approximately three-year intervals.

[4] The Act permitted the Minister of Power to make Treasury advances to the Gas and Electricity Councils and to the Scottish boards.

It also enabled compensation to be provided to a council or board member who leaves before their term of office had expired.

[4] The Electricity and Gas Act 1963 (c. 59)[6] received royal assent on 18 December 1963.

Its long title is ‘An Act to increase the statutory limits imposed on the amounts outstanding in respect of borrowings by the Electricity Council and Electricity Boards and the Gas Council and Area Gas Boards; to make further provision for Exchequer advances to certain of those bodies; to provide in certain cases for compensating members of those bodies for loss of office; and for purposes connected with the matters aforesaid’.