PART IITransfer of Undertaking of Corporation
52Government 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
Stamp duty shall not be chargeable under section 47 of the [1973 c. 51.] Finance Act 1973 in respect of any increase in the capital of the successor company which—
a
is effected by the issue of shares allotted at a time when the company was wholly owned by the Crown ; and
b
is certified by the Treasury as having been effected by the issue of shares subscribed for by the Treasury or the Secretary of State under subsection (l)(a) above.