Dissolution of corporationsE+W+S
166 Dissolution of corporations.E+W+S
[F1(1)Where all property, rights and liabilities of an urban development corporation have been transferred under or by one or more relevant instruments, 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.
[F2(5)In this section “relevant instrument” means an agreement made under section 165 above or an order made under section 165A [F3or 165B]] above.
Textual Amendments
F1S. 166(1) substituted (11.10.1993) by 1993 c. 28, s. 180(4); S.I. 1993/2134, art. 4(a)
F2S. 166(5) substituted (11.10.1993) by 1993 c. 28, s. 180(5); S.I. 1993/2134, art. 4(a)
F3Words in s. 166(5) inserted (24.9.1996) by 1996 c. 53, ss. 143(5), 150(2)
Modifications etc. (not altering text)
C1S. 166 extended (21.7.1994) by 1994 c. xiii, s. 39