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Iron and Steel Act 1982

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This is the original version (as it was originally enacted).

6Duty to report to the Secretary of State

(1)The Corporation shall supply the Secretary of State with such returns, accounts and other information with respect to their property and activities, and the property and activities of any publicly-owned companies, as he may from time to time require.

(2)Without prejudice to subsection (1) above, the Corporation shall, as soon as possible after the end of each financial year of the Corporation, make to the Secretary of State a report on the exercise and performance by the Corporation of their functions during that year and on their policy and programme, and the report shall include a general account of the activities of their subsidiaries.

(3)The report made under subsection (2) above for any year shall set out any direction given by the Secretary of State to the Corporation during that year unless—

(a)the Secretary of State has notified to the Corporation his opinion that it is against the interests of national security to do so; or

(b)the Secretary of State accepts the contention of the Corporation that it is contrary to the commercial interests of the Corporation to do so.

(4)Except as provided in subsection (5) below, the report made under subsection (2) above for any year shall set out any consent given by the Secretary of State to the Corporation during that year under subsection (2) of section 4 above and shall include a general account of the changes in organisation made during that year by virtue of any consent of his given in that or in any earlier year under that subsection.

(5)Paragraphs (a) and (b) of subsection (3) above shall apply in relation to any consent given during the year by the Secretary of State as they apply in relation to any direction given by him and, in relation to changes in organisation made during the year, shall so apply except to such extent as the Secretary of State agrees.

(6)Schedule 2 to this Act shall have effect with respect to the inclusion in reports under subsection (2) above of information respecting business of the Corporation and any publicly-owned companies consisting wholly or mainly in activities other than iron and steel activities.

(7)The Secretary of State shall lay before each House of Parliament a copy of every report made under subsection (2) above.

(8)Without prejudice to section 17 of the Interpretation Act 1978 (repeal and re-enactment), in relation to any financial year of the Corporation which began before the commencement of this Act, the references in subsection (4) above to any consent given under subsection (2) of section 4 above shall include references to any consent given under subsection (2) of section 4A of the Iron and Steel Act 1975.

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