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PART IU.K. The Corporations

Modifications etc. (not altering text)

C1By British Aerospace Act 1980 (c. 26, SIF 64), s. 10(1) it is provided that Pt. I is repealed in relation to British Aerospace and that any reference in that provision (in whatever terms expressed) to either or both of the Corporations originally established by s. 1 of this Act shall be construed as a reference to the other Corporation so established (that is to say British Shipbuilders)

Constitution and functionsU.K.

F11 British Aerospace and British Shipbuilders.U.K.

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Subordinate Legislation Made

P1S. 1: power exercised by S.I. 1977/626

Textual Amendments

2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2U.K.

Textual Amendments

F13 Powers of the Corporations.U.K.

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F14 Corporations to give effect to directions of Secretary of State.U.K.

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F1[F34A] Organisation of British Shipbuilders’ activities.U.K.

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F1[F44B] Discontinuance and restriction of British Shipbuilders activities.U.K.

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5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5U.K.

Textual Amendments

F16 Machinery for settling terms and conditions of employment etc.U.K.

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F17 Formulation of the Corporations’ policies and plans and conduct of their operations.U.K.

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8 Furnishing and publication of information by the Corporations.U.K.

(1)In such manner and at such times as the Secretary of State may specify in relation to it, each Corporation shall furnish the Secretary of State with such information—

(a)as he may specify in writing to it, and

(b)as the Corporation has or can reasonably be expected to obtain,

with respect to such matters relating to the Corporation or its wholly owned subsidiaries or the activities (past, present or future), plans or property of any of them as the Secretary of State may so specify.

(2)The Secretary of State may, by directions given to either Corporation, require it to publish, in such manner as may be specified in the directions, such information as may be so specified relating to—

(a)the operations of the Corporation and its wholly owned subsidiaries; and

(b)its policy and plans for the general conduct of its undertaking and the businesses of all or any of its wholly owned subsidiaries.

(3)Before giving any directions under subsection (2) above the Secretary of State shall consult the Corporation to which they are to be given.

F19 Control by Corporations of wholly owned subsidiaries.U.K.

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Financial provisionsU.K.

F110 Financial duties of the Corporations.U.K.

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F111 Borrowing powers of the Corporations and their wholly owned subsidiaries.U.K.

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F112 Loans by the Secretary of State to the Corporations.U.K.

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F113 Treasury guarantees.U.K.

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F114 Transfer to Corporations of rights and obligations with respect to certain government loans.U.K.

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F115 The commencing capital of each Corporation.U.K.

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F116 Public dividend capital and public dividends.U.K.

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F617 Accounts and audit.U.K.

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F618 Annual report.U.K.

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