General
25 Interpretation: companies and shares.
1
A company is wholly owned by the Crown for the purposes of this Act at any time when all its shares are held by the Crown.
2
For the purposes of this Act shares are held by the Crown if they are held—
a
by a Minister of the Crown or his nominee, or
b
by a company of which all the shares are held by the Crown.
3
The reference to a company in subsection (1) includes a reference to the Corporation on and after registration.
4
A company is associated with the Corporation for the purposes of this Act if—
a
it is designated for the purposes of this subsection by an order of the Secretary of State made by statutory instrument, and
b
it is wholly owned by the Crown.
5
The Secretary of State may designate a company for the purposes of this subsection by order made by statutory instrument; and a company which has at any time been designated for the purposes of this subsection may not be designated for the purposes of subsection (4).