The London Docklands Development Corporation (Transfer of Property, Rights and Liabilities) (Urban Regeneration Agency) Order 1998

Explanatory Note

(This note is not part of the Order)

Article 3 of this Order transfers to the Urban Regeneration Agency specified property, rights and liabilities vested in the London Docklands Development Corporation, including ordinary shares in the Royal Docks Management Authority Limited, rights and liabilities under a shareholders' agreement with that company and land situated in the London boroughs of Newham and Tower Hamlets which is shown edged with a black line and hatched on the map below.

Section 160(2)(b) of the Leasehold Reform, Housing and Urban Development Act 1993 prevents the Urban Regeneration Agency from acquiring an interest in a body corporate which at the time of the acquisition is carrying on a trade or business, if the effect of the acquisition would be to make the body corporate a subsidiary of the Agency. Article 4 of this Order modifies section 160 so that, notwithstanding subsection (2)(b), the powers conferred on the Urban Regeneration Agency are taken to include power to acquire the property, rights and liabilities vested in it by this Order.

The maps referred to in the Order may be inspected during normal office hours at the following offices:

(a) the Department of the Environment, Transport and the Regions, 2 Marsham Street, London SW1P 3EB until the end of March 1998 and then Ashdown House, 123 Victoria Street, London SW1E 6DE;

(b) the Urban Regeneration Agency, 58-60 St. Katharine’s Way, London E1 9LB;

(c) the council of the London borough of Newham, Town Hall, Barking Road, East Ham, London E6 2RP; and

(d) the council of the London borough of Tower Hamlets, Town Hall, Mulberry Place, 5 Clove Crescent, London E14 2BG.