Ss. 51(7), 52(5) repealed by Finance Act 1988 (c. 39, SIF 114), s. 148, Sch. 14 Pt. XI

http://www.legislation.gov.uk/ukpga/1986/44/section/52/2010-04-08Gas Act 1986An Act to provide for the appointment and functions of a Director General of Gas Supply and the establishment and functions of a Gas Consumers’ Council; to abolish the privilege conferred on the British Gas Corporation by section 29 of the Gas Act 1972; to make new provision with respect to the supply of gas through pipes and certain related matters; to provide for the vesting of the property, rights and liabilities of the British Gas Corporation in a company nominated by the Secretary of State and the subsequent dissolution of that Corporation; to make provision with respect to, and to information furnished in connection with, agreements relating to the initial supply of gas won under the authority of a petroleum production licence; and for connected purposes.1986-07-25texttext/xmlenStatute Law Database2024-10-30Expert Participation2010-04-08 Part II Transfer of Undertaking of Corporation
52 Government investment in securities of the successor company.(1)

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 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.

(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Ss. 51(7), 52(5) repealed by
<ref eId="c03656" href="http://www.legislation.gov.uk/id/ukpga/1988/39">Finance Act 1988 (c. 39, SIF 114)</ref>
,
<ref eId="c03657" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1988/39/section/148">s. 148</ref>
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<ref eId="c03658" class="subref operative" href="http://www.legislation.gov.uk/id/ukpga/1988/39/schedule/14/part/XI">Sch. 14 Pt. XI</ref>
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<heading> Government investment in securities of the successor company.</heading>
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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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