Transfer to Department of publicly owned securitiesN.I.
31.—(1) The Department shall have power to accept, in accordance with arrangements approved by the Department of Finance and Personnel, the transfer to the Department of any publicly owned securities on such terms and conditions as may be agreed to in relation to the transfer.
(2) For the purposes of this Article securities are publicly owned if they are held—
(a)by or on behalf of the Crown; or
(b)by a company all of whose shares are held by or on behalf of the Crown or by a wholly owned subsidiary of such a company; or
(c)by any corporation constituted by or under any statutory provision under which an industry is carried on by that corporation under national ownership or control; or
(d)by a wholly owned subsidiary of any such corporation.
(3) In this Article “wholly owned subsidiary” has the meaning[F1 given by Article 4(2) of the Companies (Northern Ireland) Order 1986].