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Atomic Energy Authority Act 1995

Changes to legislation:

Atomic Energy Authority Act 1995 is up to date with all changes known to be in force on or before 18 September 2024. There are changes that may be brought into force at a future date. Help about Changes to Legislation

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  1. Introductory Text

  2. Transfer of property, rights and liabilities of the Authority

    1. 1. Atomic Energy Authority to make schemes for transfer of property, rights and liabilities if so directed.

    2. 2. Powers of Secretary of State.

    3. 3. Supplementary provisions as to the Authority’s powers.

    4. 4. Agreements with respect to transfer schemes.

    5. 5. Duty of Authority to assist Secretary of State in connection with transfer schemes.

  3. Successor companies

    1. 6. Successor companies.

    2. 7. Disposal by Authority or Secretary of State of shares in successor companies.

  4. Financial arrangements relating to transfers

    1. 8. Taxation provisions.

    2. 9. Pensions.

  5. Extinguishment of certain liabilities

    1. 10. Extinguishment of certain liabilities.

  6. Membership of the Authority

    1. 11. Membership of the Authority.

  7. Supplementary provisions

    1. 12. Expenses.

    2. 13. Interpretation.

    3. 14. Short title and extent.

  8. SCHEDULES

    1. SCHEDULE 1

      Transfer schemes: supplementary provisions

      1. Contents and effect of scheme

        1. 1.(1) A transfer scheme may define the property, rights and...

      2. Division of Authority’s undertaking by scheme

        1. 2.(1) For the purposes of making any such division as...

      3. Property to which a scheme may relate

        1. 3.(1) The property, rights and liabilities that shall be capable...

      4. Certain debts owed to Secretary of State

        1. 4.No liability of the Authority in respect of the Authority’s...

      5. Supplementary provisions of schemes

        1. 5.(1) A transfer scheme may contain supplemental, consequential and transitional...

      6. Proof of title by certificate

        1. 6.(1) The Authority and any person to whom anything has...

      7. Duties in relation to foreign property etc.

        1. 7.(1) It shall be the duty of the Authority and...

      8. Modification of scheme by agreement

        1. 8.(1) This paragraph applies where any person to whom anything...

      9. The Transfer of Undertakings (Protection of Employment) Regulations 1981

        1. 9.(1) The 1981 regulations shall apply to any transfer of...

      10. Compensation

        1. 10.(1) Where, in consequence of any provisions included in a...

    2. SCHEDULE 2

      Successor companies

      1. Initial Government holding in any successor company

        1. 1.(1) As a consequence of the vesting in a successor...

      2. Government investment in securities of successor company

        1. 2.(1) The Treasury or, with the consent of the Treasury,...

      3. Exercise of functions through nominees

        1. 3.(1) The Treasury or, with the consent of the Treasury,...

      4. Payment of dividends etc. into Consolidated Fund

        1. 4.Any dividends or other sums received by the Treasury or...

      5. Statutory accounts

        1. 5.(1) The following provisions of this paragraph shall have effect...

      6. Distributable reserves of successor companies

        1. 6.(1) Where statutory accounts of a successor company prepared as...

      7. Dividends

        1. 7.(1) Where a distribution is proposed to be declared during...

      8. Application of Trustee Investments Act 1961

        1. 8.(1) For the purpose of applying paragraph 3(b) of Part...

      9. Accounts to be laid before Parliament

        1. 9.As soon as practicable after the holding of any general...

      10. Temporary restrictions on borrowing of companies

        1. 10.(1) If the articles of association of a successor company...

      11. Government lending to the companies

        1. 11.(1) Subject to paragraph 13 below, the Secretary of State...

      12. Treasury guarantees for loans

        1. 12.(1) Subject to paragraph 13 below, the Treasury may guarantee,...

      13. Limit on borrowing by certain successor companies

        1. 13.(1) The aggregate amount outstanding by way of principal in...

      14. Certain persons not to be treated as shadow directors

        1. 14.None of the following persons, that is to say—

      15. The House of Commons Disqualification Act 1975

        1. 15.In the House of Commons Disqualification Act 1975, in Part...

    3. SCHEDULE 3

      Taxation provisions

      1. Part I Corporation tax

        1. Interpretation of Part I

          1. 1.(1) In this Part of this Schedule— “the 1988 Act”...

        2. General

          1. 2.If a transfer scheme transfers property, rights and liabilities to...

        3. Chargeable gains: general

          1. 3.Paragraph 2 above shall not apply for the purposes of...

          2. 4.(1) Section 171(1) of the Gains Act (which makes provision...

        4. Chargeable gains: group transactions

          1. 5.(1) For the purposes of section 179 of the Gains...

        5. Chargeable gains: debts

          1. 6.(1) Where— (a) any debt owed to the Authority is...

        6. Securities issued in pursuance of Act

          1. 7.(1) For the purposes of the Corporation Tax Acts, any...

        7. Group relief

          1. 8.(1) None of the following, namely— (a) the existence of...

        8. Leases

          1. 9.(1) Section 35 of the 1988 Act (charge on lease...

        9. Sale and lease back

          1. 10.Subsections (1) and (2) of section 779 of the 1988...

        10. Leased assets

          1. 11.(1) For the purposes of section 781 of the 1988...

        11. Write-off of government investment

          1. 12.(1) Subsection (1) of section 400 of the 1988 Act...

        12. Modifications of transfer scheme

          1. 13.Where the effect of any transfer scheme is modified in...

      2. Part II Capital allowances

        1. Interpretation of Part II

          1. 14.(1) In this Part of this Schedule— “the 1988 Act”...

        2. Industrial buildings and structures

          1. 15.The Secretary of State may, for the purposes of section...

        3. Machinery and plant

          1. 16.For the purposes of Part II of the Capital Allowances...

        4. Scientific research

          1. 17.(1) For the purposes of Part VII of the Capital...

        5. Patent rights

          1. 18.(1) For the purposes of section 520 of the 1988...

        6. Know-how

          1. 19.(1) For the purposes of section 530 of the 1988...

        7. Connected persons

          1. 20.In Part II of the Capital Allowances Act 1990 (machinery...

        8. Orders under Part II

          1. 21.(1) The Secretary of State shall not make an order...

        9. Modifications of transfer scheme

          1. 22.Where the effect of any transfer scheme is modified in...

      3. Part III Stamp duty and stamp duty reserve tax

        1. Transactions attracting exemptions

          1. 23.For the purposes of this Part of this Schedule a...

        2. Stamp duty

          1. 24.(1) Subject to sub-paragraph (2) below, an exempt transaction shall...

        3. Stamp duty reserve tax

          1. 25.No agreement for the purposes of, or for purposes connected...

    4. SCHEDULE 4

      Pensions

      1. Interpretation

        1. 1.(1) In this Schedule— “Authority pension scheme” means any pension...

      2. Application of Authority pension schemes to employees of publicly owned successor companies

        1. 2.(1) Subject to sub-paragraphs (2) and (4) below—

      3. Power of Secretary of State to require amendment of schemes

        1. 3.(1) The Secretary of State may direct the Authority to...

      4. Payments to Authority by successor companies

        1. 4.In respect of— (a) any payments falling to be made...

      5. Establishment of pension scheme by successor company

        1. 5.Except with the consent of the Secretary of State, a...

      6. Duties owed where employee transferred by scheme

        1. 6.(1) Before the coming into force of any transfer scheme...

      7. Duties owed where successor company ceases to be publicly owned

        1. 7.(1) Before a successor company ceases to be publicly owned,...

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