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Aircraft and Shipbuilding Industries Act 1977
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46Restrictions on payments under Civil Aviation Act 1949
(1)Subject to subsection (2) below, in carrying out his duty under section 1(1) of the [1949 c. 67.] Civil Aviation Act 1949 of organising, carrying out and encouraging measures for the designing, development and production of civil aircraft, the Secretary of State shall not, on and after the aircraft industry vesting date, make or agree to make any payment to British Aerospace or any of its wholly owned subsidiaries except in the exercise of his powers under this Act.
(2)Nothing in subsection (1) above shall apply to a payment to a company if the terms have been settled between the Secretary of State and the company before the aircraft industry vesting date.
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