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British Aerospace Act 1980

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This is the original version (as it was originally enacted).

14Interpretation

(1)In this Act—

  • "the Act of 1977 " means the Aircraft and Shipbuilding Industries Act 1977 ;

  • " appointed day " means such day as the Secretary of State may appoint by order made by statutory instrument after consulting British Aerospace and the Treasury;

  • " share " includes stock ;

  • " subsidiary " has the same meaning as in the Companies Act 1948;

  • " the successor company " has the meaning given by section 1(1) of this Act; and "wholly owned subsidiary" has the same meaning as it has for the purposes of section 150 of the Companies Act 1948.

(2)An order under section 1 of this Act nominating any company for the purposes of that section and an order under subsection (1) above appointing a day may be varied or revoked by a subsequent order at any time before any property, rights, liabilities or obligations of British Aerospace vest in any company by virtue of section 1.

(3)A company shall be regarded for the purposes of this Act as wholly owned by the Crown at any time when all the issued shares in the company are held by or on behalf of the Crown.

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