(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F1S. 63(1)-(4) repealed (25.7.2003 for specified purposes, 29.12.2003 otherwise) by Communications Act 2003 (c. 21), ss. 398(2)(d), 406, 408, 411, Sch. 19(1) (with Sch. 18, Sch. 19(1)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F5S. 63(5) repealed by Finance Act 1988 (c. 39, SIF 114), s. 148, Sch. 14 Pt.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)