Welsh Development Agency Act 1975

27 Interpretation

(1) In this Act, unless the context otherwise requires—

• " accounting year ", in relation to the Agency, means the period of twelve months ending with the 31st March in any year, except that the Agency's first accounting year shall begin on the date of the first or only order under section 29(2) below and end on 31st March 1977;

• " the appropriate Minister " in relation to any statutory undertakers in relation to whom it is defined by section 224 of the Town and Country Planning Act 1971 or any other Act, has the meaning assigned to it by the Act so defining it;

• " holding company " means a holding company as denned in section 154 of the [1948 c. 38.] Companies Act 1948;

• " industry " includes any description of commercial activity, and any section of an industry and " industrial " has a corresponding meaning;

• " land " includes the foreshore and other land covered with water and any estate or interest in or right over land;

• " statutory undertakers " means—

  (a)

  persons authorised by virtue of any enactment to carry on any railway, light railway, tramway, road transport, water transport, canal, inland navigation, dock, harbour, pier or lighthouse undertaking, or any undertaking for the supply of electricity, gas, hydraulic power or water, and

  (b)

  the Civil Aviation Authority, the National Coal Board, the Post Office and any other authority, body or undertakers which by virtue of any enactment are to be treated as statutory undertakers for the purposes of the Town and Country Planning Act 1971;and "statutory undertaking" shall be construed accordingly;

• " subsidiary " means a subsidiary as defined by section 154 of the Companies Act 1948 ; and

• " wholly owned subsidiary " has the meaning assigned to it by section 150(4) of that Act.

(2) Securities and other property are publicly owned for the purposes of this Act if they are held—

(a) by or on behalf of the Crown;

(b) by a company all of whose shares are held by or on behalf of the Crown or by a wholly owned subsidiary of such a company ;

(c) by any corporation constituted by or under any enactment under which an industry or part of an industry is carried on by that corporation under national ownership or control; or

(d) by a wholly owned subsidiary of any such corporation.

(3) Except in so far as the context otherwise requires, any reference in this Act to an enactment shall be construed as a reference to that enactment as amended, applied or extended by or under any other enactment, including this Act.