. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

In section 14(1)(b) of the M1Scottish Development Agency Act 1975 (which makes similar provision in relation to the Scottish Development Agency, but with a limit of £2,000,000) for the words “previously acquired, would exceed £2,000,000” there shall be substituted the words “already held by the Agency or any of their subsidiaries, would exceed £1,000,000”.

In section 20(1)(b) of the M2Welsh Development Agency Act 1975 (which makes similar provision in relation to the Welsh Development Agency, with a limit of £2,000,000) for the words “previously acquired, would exceed £2 million” there shall be substituted the words “already held by the Agency or any of their subsidiaries, would exceed £1,000,000”.

Section 10(3) of the M3Industry Act 1975, section 14(3) of the Scottish Development Agency Act 1975 and section 20(3) of the Welsh Development Agency Act 1975 (savings for powers to form bodies corporate) shall cease to have effect.