PART 1U.K.UK Green Investment Bank

[F16AReport on disposal of Crown's shares in UK Green Investment Bank companyU.K.

(1)As soon as reasonably practicable after a disposal of shares held by the Crown in a UK Green Investment Bank company the Secretary of State must lay before Parliament a report on the disposal.

(2)The report—

(a)must state—

(i)the kind of disposal, and

(ii)the proportion of the company's share capital retained by the Crown (or that none has been retained); and

(b)must include—

(i)an assessment of how the Secretary of State's objectives for the disposal have been achieved, and

(ii)where the Crown still holds one or more shares in a UK Green Investment Bank company, details of the Secretary of State's intentions as to the Crown's future role and interest in such companies.

(3)The Secretary of State must give a copy of the report to—

(a)the Scottish Ministers,

(b)the Welsh Ministers, and

(c)the Office of the First Minister and deputy First Minister in Northern Ireland.

(4)Subsection (3) applies to a report as described in section 38 of the Enterprise Act 2016 as well as to a report under this section.]

Textual Amendments