British Technology Group Act 1991

1. Introductory Text

2. Vesting of property etc. of NRDC and NEB in a successor company

   1. 1. Vesting of property etc. of NRDC and NEB in a successor company.

   2. 2. Extinguishment of NRDC reserve and NEB public dividend capital.

3. Provisions relating to Government holdings in successor company

   1. 3. Initial Government holding in the successor company.

   2. 4. Government investment in securities of the successor company.

   3. 5. Exercise of functions through nominees.

   4. 6. Target investment limit for Government shareholding.

   5. 7. Offers for sale of securities etc.

4. Financial provisions relating to successor company

   1. 8. Financial structure of successor company.

   2. 9. Loans by Secretary of State to successor company.

   3. 10. Temporary restrictions on successor company’s borrowings etc.

5. Dissolution of the Corporation and Board

   1. 11. Dissolution of the Corporation and Board.

6. Supplementary provisions

   1. 12. Corporation tax.

   2. 13. Application of Trustee Investments Act 1961 in relation to investment in the successor company.

   3. 14. Orders.

   4. 15. Administrative expenses.

   5. 16. Interpretation.

   6. 17. Consequential amendments, repeals and transitional provisions.

   7. 18. Short title, commencement and extent.

7. SCHEDULES

   1. SCHEDULE 1

      PROVISIONS SUPPLEMENTARY TO S. 1

      1. Preparation for transfer to successor company

         1. 1. Without prejudice to any powers of the Corporation or Board...

      2. Provisions as to vesting of property etc.

         1. 2. Any agreement made, transaction effected or other thing done by,...

         2. 3. Where immediately before the appointed day there is in force...

         3. 4. (1) It is hereby declared for the avoidance of doubt...

      3. Disqualification of certain directors of successor company

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

   2. SCHEDULE 2

      REPEALS

      1. Part I REPEALS ON APPOINTED DAY

      2. Part II REPEALS ON DISSOLUTION OF CORPORATION

      3. Part III REPEALS ON DISSOLUTION OF BOARD

   3. SCHEDULE 3

      TRANSITIONAL PROVISIONS AND SAVINGS

      1. Constitution of the Corporation and Board

         1. 1. During the transitional period section 1(2) of the Development of...

      2. Vesting of foreign property etc. in the successor company

         1. 2. (1) It shall be the duty of the Corporation and...

      3. Application of enactments to certain continuing liabilities

         1. 3. (1) Where any loan made to the Corporation under section...

      4. Treasury guarantees

         1. 4. Sub-paragraphs (2) to (5) of paragraph 4 of Schedule 2...

      5. Final reports and accounts of the Corporation and the Board

         1. 5. (1) Notwithstanding the repeal of section 13(2) of the Development...

      6. Accounts of the Secretary of State

         1. 6. Notwithstanding the repeal of section 7(6) of the Act of...

      7. Payment of dividend by successor company before laying or delivery of accounts

         1. 7. (1) Where it is proposed to declare a distribution during...