Dissolution of corporationsE+W+S
166 Dissolution of corporations.E+W+S
(1)Where all the property and undertakings of an urban development corporation have been transferred under an agreement or agreements made under section 165 above, with or without an order under subsection (3) of that section, the Secretary of State may make an order by statutory instrument under this section.
(2)Before making such an order the Secretary of State shall consult each local authority in whose area all or part of the urban development area is situated.
(3)On the order coming into force, the corporation shall cease to act except for the purpose of preparing its final accounts and report and winding up its affairs.
(4)The corporation shall (without more) be dissolved on a date specified in, or ascertained by reference to the provisions of, the order.
(5)Subsection (9) of section 165 above applies for the purposes of this section as for those of that.