http://www.legislation.gov.uk/ukpga/1980/34/section/46/2004-07-22
Transport Act 1980
An Act to amend the law relating to public service vehicles; to make provision for and in connection with the transfer of the undertaking of the National Freight Corporation to a company; to provide for the making of payments by the Minister of Transport in aid of certain railway and other pension schemes; to amend Part VI of the Road Traffic Act 1972 as regards car-sharing arrangements; to make amendments about articulated vehicles; to prohibit the display of certain roof-signs on vehicles other than taxis; to abolish the Freight Integration Council and the Railways and Coastal Shipping Committee; to repeal certain provisions about special authorisations for the use of large goods vehicles and about charges on independent tramways, trolley vehicles and the like; and for connected purposes.
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Statute Law Database
2015-08-10
Expert Participation
2004-07-22
Part II Transfer of Undertaking of National Freight Corporation
Transfer of undertaking of National Freight Corporation to a company limited by shares
46 Initial government holding in successor company.
F21
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F22
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F23
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4
Securities of the successor company held by the Minister or by nominees for him shall not be disposed of except with the consent of the Treasury and in such manner and on such terms as the Treasury may direct.
5
Subject to section 49(5), any dividends or other sums received by the Minister, or by nominees for him, in right of, on the disposal of, or otherwise in connection with, any securities of the successor company shall be paid into the Consolidated Fund.
6
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