Part IV Transfer of Undertakings of IBA and Cable Authority

General

141 Interpretation of Part IV.

1

In this Part—

  • “the Commission” means the Independent Television Commission;

  • “debentures” includes debenture stock;

  • “the IBA” means the Independent Broadcasting Authority;

  • “the nominated company” means the company nominated for the purposes of section 127(1);

  • “securities”, in relation to a company, includes shares, debentures, bonds and other securities of the company, whether or not constituting a charge on the assets of the company;

  • “shares” includes stock;

  • “subsidiary” has the meaning given by F1section 1159 of the Companies Act 2006;

  • “the transfer date” means the day appointed under section 127(1).

2

Other expressions used in this Part which are also used in the M1Broadcasting Act 1981 have the same meaning as in that Act.

3

The nominated company shall be regarded for the purposes of this Part as wholly owned by the Crown at any time when each of the issued shares in the company is held by, or by a nominee of, the Secretary of State.