Iron and Steel Act 1982

37 Interpretation

(1) In this Act—

• " the arbitration tribunal" has the meaning assigned by section 25(1) above;

• " company " means a company within the meaning of the [1948 c. 38.] Companies Act 1948 and a body incorporated by royal charter;

• "the Corporation" has the meaning assigned by section 1(1) above;

• " financial year "—

  (a)

  in relation to the Corporation, means the period prescribed by or under section 23 above; and

  (b)

  in relation to any publicly-owned company, means the period for which the accounts of the company are made up for the purpose of being laid before its annual meeting, whether that period is a year or not;

• " iron and steel activities " means the activities described in Schedule 5 to this Act;

• " iron and steel producer " means a person carrying on in Great Britain a business comprising any iron and steel activities;

• " iron and steel products " means products of any iron and steel activities;

• "iron ore" means ore containing not less than one fifth part by weight of iron;

• " pension", in relation to any person, means a pension whether contributory or not, of any kind whatsoever payable to, or in respect of, him, and includes a gratuity so payable and a return of contributions to a pension fund, with or without interest thereon or any other addition thereto;

• " products ", in relation to any activities, means the direct products of those activities and does not include any by-products thereof;

• " publicly-owned company " means a company which for the time being qualifies for inclusion in any group of bodies corporate as respects which the following conditions are for the time being fulfilled—

  (a)

  every body corporate of the group is either the Corporation or a subsidiary of the Corporation ; and

  (b)

  every member of every company in the group is either the Corporation or another company in the group or a nominee of the Corporation or of a company in the group;

  and "public ownership", in relation to any company, shall be construed accordingly ;

• " Scottish proceedings " has the meaning assigned by section 25(3) above;

• " the statutory maximum " means—

  (a)

  in England and Wales, the prescribed sum within the meaning of section 32 of the [1980 c. 43.] Magistrates' Courts Act 1980 (that is to say £1,000 or another sum fixed by order under section 143 of that Act to take account of changes in the value of money); and

  (b)

  in Scotland, the prescribed sum within the meaning of section 289B of the [1975 c. 21.] Criminal Procedure (Scotland) Act 1975 (that is to say £1,000 or another sum fixed by order under section 289D of that Act for that purpose);

• " subsidiary " shall be construed in accordance with section 154 of the [1948 c. 38.] Companies Act 1948 ;

• " works " means—

  (a)

  any factory (within the meaning of the [1961 c. 34.] Factories Act 1961);

  (b)

  any mine or quarry ; or

  (c)

  any premises used by way of trade or business for the purposes of the storage, transport or distribution of any articles or for the supply of electricity or other forms of power ;

  together with any machinery or equipment installed in any factory, mine, quarry or premises as aforesaid and any land occupied for the purposes thereof, but does not include any factory, mine, quarry, premises or land outside Great Britain.

(2) References in this Act to a person employed by a company do not include references to a director of the company whose functions are not substantially those of a managing director or an employee.