British Steel Act 1988
British Steel Act 1988 (1988 c. 35)
- British Steel Act 1988 (1988 c. 35)
- Vesting of property etc. of British Steel Corporation in a successor company
- 1 Vesting of property etc. of British Steel Corporation in a successor company.
- 2 Reduction and subsequent extinguishment of Corporation’s public dividend capital.
- Provisions relating to Government holdings in the successor company
- 3 Initial Government holding in the successor company.
- 4 Government investment in securities of the successor company.
- 5 Exercise of functions through nominees.
- 6 Target investment limit for Government shareholding.
- Financial provisions relating to the successor company
- 7 Financial structure of the successor company.
- 8 Loans by Secretary of State to successor company.
- 9 Temporary restrictions on successor company’s borrowings etc.
- Dissolution of the Corporation
- 10 Dissolution of the Corporation.
- Supplementary provisions
- 11 Corporation tax.
- 12 Application of Trustee Investments Act 1961 in relation to investment in the successor company.
- 13 Orders.
- 14 Administrative expenses.
- 15 Interpretation.
- 16 Consequential amendments, repeals and transitional provisions.
- 17 Short title, commencement and extent.
- SCHEDULES
- SCHEDULE 1 Provisions supplementary to s.1
- Provisions as to vesting of property etc. of Corporation
- Disqualification of certain directors of successor company
- SCHEDULE 2 Repeals
- Part I Repeals coming into force on appointed day
- Part II Repeals coming into force on dissolution of Corporation
- SCHEDULE 3 Transitional Provisions and Savings
- Constitution of the Corporation
- Vesting of the Corporation’s foreign property etc. in the successor company
- Application of enactments to certain continuing liabilities
- Treasury guarantees
- Final reports and accounts of the Corporation
- Accounts of the Secretary of State
- Pensions and compensation payments
- Savings in connection with transfers to the Corporation
- Payment of dividend by successor company before laying or delivery of accounts
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