Modifications etc. (not altering text)
C1By British Aerospace Act 1980 (c. 26, SIF 64), s. 10(1) it is provided that Pt. I is repealed in relation to British Aerospace and that any reference in that provision (in whatever terms expressed) to either or both of the Corporations originally established by s. 1 of this Act shall be construed as a reference to the other Corporation so established (that is to say British Shipbuilders)
(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
(2)On the shipbuilding industry vesting date any rights or obligations of the Secretary of State in existence on that date with respect to any loan which—
(a)falls within subsection (3) below, and
(b)was made to a company which comes into public ownership as, or as the wholly owned subsidiary of, a company the securities of which vest in British Shipbuilders,
shall, by virtue of this section, become rights or obligations of British Shipbuilders.
(3)The loans referred to in subsections (1) and (2) above are—
(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
(b)loans under section 5 of the M1Science and Technology Act 1965 (support of scientific research, etc.);
(c)loans under section 4 of the M2Shipbuilding Industry Act 1967 (loans by the Shipbuilding Industry Board, the rights and obligations under which vested in the Secretary of State under section 9(3) of that Act);
(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
(e)loans under Part II of the M3Industry Act 1972 (financial assistance for industry); and
(f)a loan of £4½ million made in 1971 to Yarrow (Shipbuilders) Limited and in respect of which a supplementary sum was included in Vote 7 in Part 15 of Schedule (B) to the M4Appropriation Act 1971.
Textual Amendments
F1S. 14(1)(3)(a)(d) repealed by British Aerospace Act 1980 (c. 26, SIF 64), s. 15(2), Sch. 3
Marginal Citations