The Transfer of Functions (Secretary of State and Treasury) Order 1986

SCHEDULES

Articles 2(2) and 3(2)

SCHEDULE 1 INSTRUMENTS REFERRED TO IN ARTICLES 2(2) AND 3(2)

1.  The Loan Stock Transfer Agreement made on 6th August 1984 between British Telecommunications, the Secretary of State and the Law Debenture Trust Corporation plc.

2.  The following agreements made on 6th August 1984 between the Secretary of State, the Law Debenture Trust Corporation plc and British Telecommunications plc, namely—

(a) the Loan Stock Moratorium Agreement;

(b) the Trustee Side Agreement; and

(c) the Loan Stock Interest Payment Agreement.

3.  The letters of agreement relating to the voting of the Government shareholding which were exchanged on 16th November 1984 between the Secretary of State and British Telecommunications plc.

4.  The letters of agreement relating to the voting of the Government shareholding which were exchanged on 16th November 1984 between the Secretary of State and the Bank of England.

Article 3(1)

SCHEDULE 2 CONSEQUENTIAL AMENDMENTS AND ADAPTATIONS

1.—(1) In subsection (2) of section 79 of the 1981 Act after the words “Secretary of State” there shall be inserted the words “or the Secretary of State with the consent of the Treasury” and after the word “Treasury”, in the second place where it occurs, there shall be inserted the words “or the Secretary of State”.

(2) In subsection (3) of that section after the word “Treasury”, in both places where it occurs, there shall be inserted the words “or the Secretary of State” and after the word “them” there shall be inserted the words “or him”.

2.  In section 61(6) of the 1984 Act, after the words “received by” there shall be inserted the words “the Treasury or”.

3.—(1) In subsection (1) of section 63 of the 1984 Act, for the words “The Secretary of State may at any time, with the consent of the Treasury”, there shall be substituted the words “The Treasury or, with the consent of the Treasury, the Secretary of State may at any time”.

(2) In subsection (3) of that section, after the words “incurred by” there shall be inserted the words “the Treasury or”.

(3) In subsection (4) of that section, after the words “received by” there shall be inserted the words “the Treasury or”.

4.—(1) In subsection (1) of section 64 of the 1984 Act—

(a) after the words “61, 62 or 63 above” there shall be inserted the words “and the Treasury may appoint such person or persons as they think fit to act as their nominees for the purposes of section 63 above”;

(b) for the words “such nominee”, in the second place where they occur, there shall be substituted the words “nominee of the Treasury or the Secretary of State”; and

(c) after the words “time to time” there shall be inserted the words “by the Treasury or”.

(2) In subsection (2) of that section—

(a) after the words “nominee of” there shall be inserted the words “the Treasury or”; and

(b) for the words “the Secretary of State may direct with the consent of the Treasury” there shall be substituted the words “the Treasury or the Secretary of State with the consent of the Treasury may direct”.

5.—(1) In subsection (1) of section 65 of the 1984 Act for the words “the Secretary of State or his nominee” there shall be substituted the words “the Treasury or the Secretary of State or their or his nominee”.

(2) In subsection (4) of that section for the words “The Secretary of State” there shall be substituted the words “The Treasury or the Secretary of State”.

(3) In subsection (5) of that section—

(a) after the words “duty of” there shall be inserted the words “the Treasury and of”;

(b) for the word “his”, wherever it occurs, there shall be substituted the word “their”; and

(c) for the word “him” there shall be substituted the word “them”.

(4) In subsection (6) of that section—

(a) for the words “the Secretary of State may take up, or direct any nominee of his” there shall be substituted the words “the Treasury or the Secretary of State may take up, or direct any nominee of the Treasury or the Secretary of State”;

(b) for the word “him” there shall be substituted the words “the Treasury or the Secretary of State”; and

(c) after the words “duty of” there shall be inserted the words “the Treasury or, as the case may be,”.

6.  In Article 2 of the Telecommunications Act 1984 (Government Share-holding) Order 1985, for the words “the Secretary of State or his nominee” there shall be substituted the words “the Treasury or the Secretary of State or their or his nominee”.