Statutory Instruments
BRITISH TECHNOLOGY
Made
2nd December 1991
The Secretary of State, in exercise of the power conferred on him by section 1(1) of the British Technology Group Act 1991(1) hereby makes the following Order:–
1. This Order may be cited as the British Technology Group Act 1991 (Appointed Day) Order 1991.
2. The day appointed for the purposes of section 1(1) of the British Technology Group Act 1991 shall be 6th January 1992.
Peter Lilley
Secretary of State for Trade and Industry
2nd December 1991
(This note is not part of the Order)
Section 1(1) of the British Technology Group Act 1991 provides that, on such day as the Secretary of State may by order appoint (“the appointed day”), all the property, rights and liabilities to which the National Research Development Corporation (“the Corporation”) or the National Enterprise Board (“the Board”) was entitled or subject immediately before that day shall (subject to section 2 of the Act which extinguishes the reserve established by the Corporation under section 10 of the Development of Inventions Act 1967 (c. 32) and any liability of the Board to the Secretary of State in respect of the Board’s public dividend capital except any liability of the Board under paragraph 5(3) or (3A) of Schedule 2 to the Industry Act 1975 (c. 68) which accrued before the appointed day) become by virtue of section 1 of the Act property, rights and liabilities of a company nominated for the purposes of the section by the Secretary of State.
This Order appoints 6th January 1992 as the appointed day for the purposes of section 1(1) of the Act.
By virtue of section 18 of the Act all the provisions of the Act will come into force on the day appointed by this Order as the appointed day except sections 1, 2, 7, 14, 16(1), 18 and paragraph 1 of Schedule 1 (which came into force on the day on which the Act was passed) and Parts II and III of Schedule 2 (which will come into force on the dissolution of the Corporation or, as the case may be, the Board).