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Cesser of certain existing restrictions and requirements.
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16.—(1) Any provision of any Act passed before the passing of this Act or of any order made under any such Act shall cease to have effect in so far as it purports—
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(a) to fix the maximum or standard charges which may be made for gas by gas undertakers, or
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(b) to permit gas undertakers to increase or reduce the charges made by them above or below standard charges subject to a reduction or increase in the rate of dividend payable by the undertakers, or
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(c) to limit the rate of dividend which may be paid by gas undertakers, or
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(d) to require gas undertakers to establish or maintain a fund from undistributed profits which is capable of being used for the payment of dividends on the share capital of the undertakers.
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(2) Moneys standing to the credit of any fund referred to in paragraph (d) of subsection (1) of this section may be applied to the general purposes of the gas undertakers, including the payment of dividends.
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