Transfer of property and undertakings of development corporations, and their dissolution S

[F1 36E Reduction of liability of development corporation. S

(1) If the Secretary of State is satisfied that it is expedient, having regard to the provisions of any transfer order or proposed transfer order, that the liability of a development corporation in respect of advances made to them under this Act should be reduced he may, by order made with the consent of the Treasury, reduce that liability to such extent as may be specified in the order.

(2) Section 46(6) of this Act applies to orders under this section.]

Textual Amendments

F1 Ss. 36–36H substituted for sections 36 and 36A by Enterprise and New Towns (Scotland) Act 1990 (c. 35, SIF 64), s. 33