All the area north of a line drawn roughly between south of the Tay, Stirling, and the west coast above Glasgow is placed in the charge of the North of Scotland Hydro-Electric Board. This will be strengthened and enlarged and will enjoy full autonomy including care of its own finances. South of that line Scotland is divided into two areas – South-East and South-West – and these area boards will operate under the control of the Central Authority in London. Holders of securities in electricity companies will be paid compensation in the form of stock issued by the Central Authority.
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