(1)The Secretary of State may form, or participate in forming, companies to provide facilities or services to persons or bodies exercising functions, or otherwise providing services, under this Act.
(2)The Secretary of State may, with a view to securing or facilitating the provision by companies of facilities or services to persons or bodies falling within subsection (1)—
(a)invest in the companies (whether by acquiring assets, securities or rights or otherwise), or
(b)provide loans and guarantees and make other kinds of financial provision to or in respect of them,
or both.
(3)For the purposes of subsections (1) and (2) it is immaterial that the facilities or services provided or to be provided by the companies in question are not provided or to be provided—
(a)only to persons or bodies falling within subsection (1), or
(b)to persons or bodies falling within subsection (1) only in their capacities as persons or bodies such as are mentioned in that provision.
(4)“Companies” means companies [F1as defined in section 1(1) of the Companies Act 2006] (c. 6).
(5)This section does not affect any powers of the Secretary of State exercisable otherwise than by virtue of this section.
Textual Amendments
F1Words in s. 223(4) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 258(2) (with art. 10)