Search Legislation

British Aerospace Act 1980

Status:

This is the original version (as it was originally enacted).

Schedules

Schedule 1Effect of Section 1 in Certain Cases

Modification of agreements

1Where immediately before the appointed day there is in force an agreement which—

(a)confers or imposes on British Aerospace any rights, liabilities or obligations which vest in the successor company by virtue of section 1 of this Act; and

(b)refers (in whatever terms and whether expressly or by implication) to a member or officer of British Aerospace ;

the agreement shall have effect, in relation to anything falling to be done on or after that day, as if for that reference there were substituted a reference to such person as that company may appoint or, in default of appointment, to the officer of that company who corresponds as nearly as may be to the member or officer of British Aerospace in question.

Contracts of employment and pensions

2It is hereby declared for the avoidance of doubt that—

(a)the effect of section 1 of this Act in relation to any contract of employment with British Aerospace in force immediately before the appointed day is merely to modify the contract (as from that day) by substituting the successor company as the employer (and not to terminate the contract or vary it in any other way) ; and

(b)section 1 is effective to vest the rights, liabilities and obligations of British Aerospace under any agreement or arrangement for the payment of pensions, allowances or gratuities in the successor company along with all other rights, liabilities and obligations of British Aerospace ;

and accordingly for the purposes of any such agreement or arrangement (as it has effect by virtue of section 1(3) in relation to employment with the successor company or with a wholly owned subsidiary of that company) any period of employment with British Aerospace or with any wholly owned subsidiary of British Aerospace which becomes a wholly owned subsidiary of the successor company on the appointed day shall count as employment with the successor company or (as the case may be) with a wholly owned subsidiary of that company.

Regional development grants

3—(i) Where an asset, or the right to receive an asset, vests in the successor company by virtue of section 1 of this Act, then for the purposes of Part I of the Industry Act 1972—

(a)so much of any expenditure incurred by British Aerospace in providing that asset as is approved capital expenditure (of any description mentioned in section 1(3) of that Act) in respect of which no payment of regional development grant has been made to British Aerospace shall be treated as having been incurred by the successor company and not by British Aerospace ; and (b) where the asset itself vests in the successor company by virtue of section 1, it shall be treated as a new asset if it would have fallen to be so treated if it had remained vested in British Aerospace.

(2)In this paragraph " regional development grant" means a grant under Part I of the Industry Act 1972 and " approved capital expenditure " has the same meaning as in that Part of that Act.

Schedule 2Transitional Provisions

1(1)Subject to the following provisions of this paragraph, subsections (2) to (6) of section 12 of the Act of 1977 (provisions with respect to loans made to British Aerospace or British Shipbuilders by the Secretary of State under section 12(1)) shall continue to apply in relation to any loan made to British Aerospace by the Secretary of State under that section in respect of which any outstanding liability of British Aerospace becomes a liability of the successor company by virtue of section 1 of this Act.

(2)No further directions may be given by the Secretary of State under section 12(2) as it applies in relation to any such loan by virtue of sub-paragraph (1) above, but those applying to any such loan immediately before the appointed day shall apply in relation to payments by the successor company in respect of the loan under section 12(2).

(3)In relation to sums received from the successor company by virtue of this paragraph the reference in section 12(4) to British Aerospace shall be taken as referring to the successor company.

2(1)Section 2 of this Act shall not operate to extinguish any liability of British Aerospace under section 15 of the Act of 1977 (commencing capital of each Corporation)—

(a)to repay any part of the principal of its commencing debt which falls due for repayment before the appointed day; or

(b)to pay interest on its commencing debt in respect of a period falling before that day.

(2)The terms applicable to any such liability immediately before the appointed day by virtue of section 15(4) shall continue to apply to that liability after it becomes a liability of the successor company by virtue of section 1 of this Act, and section 15(5) shall continue to apply to sums received by the Secretary of State from the successor company by virtue of this paragraph.

3Section 2 of this Act shall not operate to extinguish—

(a)any liability of British Aerospace under section 16 of the Act of 1977 (public dividend capital and public dividends) to make any payment in pursuance of section 16(2) in respect of a period falling before the appointed day ; or

(b)any liability of British Aerospace under section 45 of that Act (other payments to British Aerospace) to make any payment in respect of the capital amounts mentioned in section 2(c) of this Act corresponding to a payment under section 16(2) and relating to a period falling before the appointed day ;

and any sums received by the Secretary of State from the successor company in discharge of any such liability shall be paid into the Consolidated Fund.

4(1)Section 41(5) or (as the case may be) section 44(5) of the Act of 1977 shall apply to any sums repaid to the Secretary of State by the successor company in discharge of any liability of British Aerospace under section 41(4) or section 44(4) which became a liability of that company on the appointed day.

(2)Section 44(4) (as it has effect by virtue of section 10(1) of this Act) shall not require the Secretary of State to demand repayment from British Shipbuilders of the whole of any amounts paid by him in respect of his expenses under section 44, but he may instead, if he thinks fit, require repayment of such proportion only of any such amounts as in his opinion ought to be defrayed by that Corporation.

5(1)Any record kept in accordance with arrangements made by British Aerospace before the appointed day under paragraph 3(2) of Schedule 5 to the Act of 1977 shall be maintained by the Secretary of State during such part of the period specified in paragraph 3(1) as falls after that day ; and paragraph 9 of that Schedule shall apply to the Secretary of State as it applies to British Shipbuilders.

(2)The reference in paragraph 14 of Schedule 6 to the Act of 1977 to any record kept by British Shipbuilders under Schedule 5 shall include a reference to any record maintained by the Secretary of State in accordance with this paragraph.

6The repeals made by this Act in the House of Commons Disqualification Act 1975 and the Northern Ireland Assembly Disqualification Act 1975, and the corresponding repeal in section 1(10) of the Act of 1977, shall not take effect until British Aerospace is dissolved.

Schedule 3Enactments Repealed

ChapterShort titleExtent of repeal
1975 c. 24.The House of Commons Disqualification Act 1975.In Part II of Schedule 1, the entry relating to British Aerospace.
1975 c. 25.The Northern Ireland Assembly Disqualification Act 1975.In Part II of Schedule 1, the entry relating to British Aerospace.
1977 c. 3.The Aircraft and Shipbuilding Industries Act 1977.

In section 1, subsection (l)(a), in subsection (7) the words from " British Aerospace " to " to ", and in subsection (10) the words " ' British Aerospace'; and".

Section 2(1).

In section 5, subsection (1) and in subsections (4) and (5)(a) the words " (1) or ".

In section 7, subsection (3) and in subsection (4) the definition of " estimated cost".

In section 11, in subsection (1) the words " (6) and ", subsection (6), in subsection (8) the words " (6) or ", in subsection (9) the words "(6) and " and heads (i), (ii) and (iv) of paragraph (6), and in subsection (10) the words " subsection (6) or ".

In section 13(4), the words from "to whose" to "relates".

In section 14, subsections (1) and (3)(a) and (d).

In section 15(2), in paragraph (b)(ii), the words " subsection (1) or ", and paragraph (c).

Sections 45 and 46.

In section 48, in subsection (1) the words " respective", " British Aerospace and " and " each", and subsection (2)(fl).

Section 49 (13).

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

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.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources