Following last year's collapse of British Energy, the nuclear power company, the government announced in November 2002 its intention to help manage a reconstruction process.

This legislation aims to facilitate the restructuring process but will also make provision for smoothing the path through administration should that become necessary.

The Act will:

• provide parliamentary authority for government to incur expenditure on British Energy or on acquiring British Energy companies or their assets;
• amend the Electricity Act 1989 to remove the barrier to government acquiring shares in "successor companies" (companies formed by the restructuring of the Electricity Industry prior to privatisation) and;
• amend the 1989 Act to remove the ceiling on financial assistance in relation to nuclear liabilities.

Energy minister, Brian Wilson said:

"The Bill will allow us to deal with any eventuality faced by British Energy. These are sensible provisions which will continue to protect our priorities of nuclear safety and the security of electricity supplies."

House of Commons

First reading: January 9 2003 (HC Bill 39)

Second reading: January 27 2003

Committee and remaining stages: February 6 2003

House of Lords

First reading: February 6 2003 (HL Bill 30)

Second reading: March 3 2003

Grand Commitee

• 1st sitting: March 17 2003

Report: April 3 2003

Bill as amended: (HL Bill 55)

Third reading: April 10 2003

House of Commons

Consideration of Lords amendments: April 30 2003 (HC Bill 91)

House of Lords

Returned from Commons with amendments agreed to: May 1 2003

Royal Assent: May 8 2003