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Telecommunications Act 1984
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Changes over time for: Section 63
Alternative versions:
- 01/02/1991- Amendment
- 25/07/2003- Amendment
- 31/03/2017
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Point in time view as at 31/03/2017.
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Telecommunications Act 1984, Section 63 is up to date with all changes known to be in force on or before 09 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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63 Government investment in securities of the successor company.U.K.
(1)[F1[F2The Treasury or, with the consent of the Treasury, the Secretary of State may at any time], acquire—
(a)securities of the successor company or of any subsidiary of the successor company; or
(b)rights to subscribe for any such securities.]
(2)[F1The Secretary of State may not dispose of any securities or rights acquired under this section without the consent of the Treasury.]
(3)[F1Any expenses incurred by [F3the Treasury or] the Secretary of State in consequence of the provisions of this section shall be paid out of money provided by Parliament.]
(4)[F1Any dividends or other sums received by [F4the Treasury or] the Secretary of State in right of, or on the disposal of, any securities or rights acquired under this section shall be paid into the Consolidated Fund.]
(5)F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 63(1)-(4) repealed (25.7.2003 for specified purposes, 29.12.2003 otherwise) by Communications Act 2003 (c. 21), ss. 398(2)(d), 406, 408, 411, Sch. 19(1) (with Sch. 18, Sch. 19(1) Notes 1, 2); S.I. 2003/1900, arts. 1(2), 2(1), 3(1), Sch. 1 (with art. 3(2) (as amended (8.12.2003) by S.I. 2003/3142, art. 1(3))); S.I. 2003/3142, art. 3, Sch. 1 (with art. 11)
F2Words substituted by S.I. 1986/2237, art. 3(1), Sch. 2 para. 3(1)
F3Words inserted by S.I. 1986/2237, art. 3(1), Sch. 2 para. 3(2)
F4Words inserted by S.I. 1986/2237, art. 3(1), Sch. 2 para. 3(3)
F5S. 63(5) repealed by Finance Act 1988 (c. 39, SIF 114), s. 148, Sch. 14 Pt. XI
Modifications etc. (not altering text)
C1Certain functions transferred by S.I. 1986/2237, arts. 2(2)(a), 3(3)
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