Transport Act 1981

10 Provisions of the Companies Acts applying to Associated British Ports

(1) The provisions of the Companies Acts 1948 to 1980 mentioned in subsection (2) apply to Associated British Ports, subject to the adaptations specified in subsection (3), as if Associated British Ports were a public company registered in England and Wales under the [1948 c. 38.] Companies Act 1948 and as if the directors of Associated British Ports were the directors of such a company ; and the supplementary provisions of those Acts relating to the interpretation, operation and enforcement of those provisions apply accordingly.

(2) The provisions referred to in subsection (1) are the following—

Subject-matter	Provisions applied
1. Financial assistance for purchase of shares, &c.	Companies Act 1948, section 54.
2. Register of charges.	Companies Act 1948, sections 104 and 105.
3. Accounts and audit.	[1948 c. 38.] Companies Act 1948, sections 149 to 156, 158(2), 161, 163, 196, 454(1) and Schedule 8; [1967 c. 81.] Companies Act 1967, sections 3 to 8, 11, 13 and 14 (except subsections (2) and (7)); [1976 c. 69.] Companies Act 1976, sections 1 to 6, 12, 13, 18 and 19; [1980 c. 22.] Companies Act 1980, sections 54 to 56, 58 and 59.
4. Directors' report.	Companies Act 1948, section 157; Companies Act 1967, sections 15 to 20 and 22.
5. Disclosure by directors of interests in contracts, &c.	Companies Act 1948, section 199.
6. Power of Court to give relief in certain cases.	Companies Act 1948, section 448.
7. Restrictions on distributions.	Companies Act 1980, sections 39, 40 and 43.

(3) The provisions mentioned in subsection (2) apply to Associated British Ports with the following adaptations—

(a) any reference to the date of incorporation of Associated British Ports shall be construed as a reference to the appointed day;

(b) any reference to the registered office of Associated British Ports shall be construed as a reference to its principal office;

(c) any reference to the members of Associated British Ports shall be construed as a reference to the Holding Company and any reference to shares in Associated British Ports shall be disregarded ;

(d) documents required to be laid before Associated British Ports in general meeting shall instead be sent to the Holding Company, and any reference to documents so laid shall be construed accordingly.

(4) The Secretary of State may by regulations make such amendments of subsections (1) to (3) as appear to him necessary or expedient in consequence of changes in company law coming into force after the passing of this Act.

(5) Regulations under subsection (4) shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.