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Airports Act 1986
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Changes over time for: Section 5
Version Superseded: 22/07/2004
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- 01/02/1991- Amendment
- 01/04/2003
Point in time - 22/07/2004- Amendment
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5 Government investment in securities of the successor company.E+W+S
(1)Subject to section 7(5), the Treasury or, with the consent of the Treasury, the Secretary of State may at any time, acquire—
(a)securities of the successor company; or
(b)rights to subscribe for any such securities.
(2)The Secretary of State may not dispose of any securities or rights acquired by him under this section without the consent of the Treasury.
(3)Any expenses incurred by the Treasury or the Secretary of State in consequence of the provisions of this section shall be paid out of money provided by Parliament.
(4)Any dividends or other sums received by the 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.
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