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(1)Any excess, for any financial year, of the revenues of any of the Electricity Boards in England and Wales over their outgoings for that year properly chargeable to revenue account shall, subject to the following provisions of this section, be applied for such purposes of the Board as the Board may determine.
(2)The power of the Minister under section eight of this Act to give directions to any of the Electricity Boards in England and Wales as to the performance of their functions shall extend to the giving to them, with the approval of the Treasury, of directions (whether of a general or a specific character) as to the application of any such excess of revenues over outgoings.
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