The Secretary of State1 has power, with the approval of the Treasury, to make payments by way of grant (known as 'residual payments grant')2 to the British Coal Corporation3, or to any successor company4 which is for the time being wholly owned by the Crown5, with a view to reducing or eliminating any amount falling to be shown in any accounts of the Corporation or that company as a deficit on its cash flow for any accounting period6. Payment of residual payments grant is made by advancing sums during any accounting period in anticipation of what appears will be
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