C1C2Part III Markets

Annotations:
Modifications etc. (not altering text)
C2

Pt. III applied (2.10.2004) by Ipswich Market Act 2004 (c. iii), ss. 1, 6

51 Power to sell to local authority.

1

The owner of a market undertaking, or of any rights in respect of a market and of tolls, whether established under, or enjoyed by virtue of, statutory powers or not, may sell or lease to a local authority the whole or any part of his market undertaking or rights, but subject to all attached liabilities.

2

A sale by a . . . F1 company under this section must be authorised—

a

if the company is a company within the meaning of the Companies Act F21985, F3by special resolution;

b

if the company is not such a company, by a resolution passed by three-fourths in number and value of the members present, either personally or by proxy, at a meeting specially convened for the purpose with notice of the business to be transacted.