SCHEDULES
SCHEDULE 2 Waste Disposal Authorities and Companies
Part II Provisions Regulating Waste Disposal Authorities and Companies
Avoidance of restrictions on transfer of securities of companies
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1
Subject to sub-paragraph (3) below, any provision to which this paragraph applies shall be void in so far as it operates—
a
to preclude the holder of any securities of a waste disposal contractor from disposing of those securities; or
b
to require the holder of any such securities to dispose, or offer to dispose, of those securities to particular persons or to particular classes of persons; or
c
to preclude the holder of any securities from disposing of those securities except—
i
at a particular time or at particular times; or
ii
on the fulfilment of particular conditions or in other particular circumstances.
2
This paragraph applies to any provision relating to any securities of a waste disposal contractor which is controlled by a waste disposal authority or to which the authority has transferred the relevant part of its undertaking and contained in—
a
the memorandum or articles of association of the company or any other instrument purporting to regulate to any extent the respective rights and liabilities of the members of the company;
b
any resolution of the company; or
c
any instrument issued by the company and embodying terms and conditions on which any such securities are to be held by persons for the time being holding them.
3
No provision shall be void by reason of its operating as mentioned in sub-paragraph (1) above if the Secretary of State has given his approval in writing to that provision.