- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format. The electronic version of this UK Statutory Instrument has been contributed by Westlaw and is taken from the printed publication. Read more
4.—(1) Each person, in whom, at the commencement of these regulations there is vested any interest in any foreign investment for the purposes of any scheme to which these regulations apply, shall, forthwith or as soon as requisite, as the case may be, take all steps necessary to transfer the said interest to Coal Industry (Nominees) Limited, who shall hold the same to the order of the trustees of the principal scheme.
(2) The obligation imposed by the foregoing paragraph shall include an obligation to do all such things as are necessary, or as the company aforesaid may direct to be done, for the purpose of ensuring—
(a)the due registration or inscription of the title of the said company,
(b)the delivery to the said company of any documents constituting evidence of the said registration or inscription;
(c)the performance for the benefit of the said company of any obligation due in respect of the said interest; and
(d)the receipt by the said company of all dividends, rent or interest in respect thereof due for payment after the commencement of these regulations.
(3) Where any liability or obligation, governed otherwise than by the law of any part of Great Britain, has been or is incurred by any person—
(a)by virtue of any interest, to which the foregoing paragraphs of this regulation apply, having been vested in him, or
(b)on behalf of, or for the purposes of, any scheme to which these regulations apply,
the trustees aforesaid shall indemnify that person against discharge thereof:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include: