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Gas Act, 1976

Directions as to profits, financial objectives and pricing policy of Board.

11.—(1) The Minister may, from time to time, with the consent of the Minister for Finance give the Board such general directives concerning the pricing policy as to the sale or supply of gas or the financial objectives of the Board as he considers appropriate.

(2) The Minister may, from time to time, with the consent of the Minister for Finance direct that the profits of the Board in a year specified in the direction shall be applied in such manner (including application for the benefit of the Exchequer) as is specified in the direction.

(3) In performing its functions the Board shall—

(a) comply with any direction under this section or any directive under this section concerning its pricing policy as to the sale or supply of gas,

(b) have regard to any directive under this section concerning its financial objectives.

(4) Nothing in this section shall be construed as enabling the Minister to exercise any power or control in relation to a price to be charged by the Board in a particular case.