Search Legislation

British Steel Act 1988

Changes to legislation:

There are outstanding changes not yet made by the editorial team to British Steel Act 1988. Those changes will be listed when you open the content using the Table of Contents below. Any changes that have already been made by the team appear in the content and are referenced with annotations. Help about Changes to Legislation


Changes to Legislation

Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the affected provisions when you open the content using the Table of Contents below.

  1. Introductory Text

  2. Vesting of property etc. of British Steel Corporation in a successor company

    1. 1. Vesting of property etc. of British Steel Corporation in a successor company.

    2. 2. Reduction and subsequent extinguishment of Corporation’s public dividend capital.

  3. Provisions relating to Government holdings in the successor company

    1. 3. Initial Government holding in the successor company.

    2. 4. Government investment in securities of the successor company.

    3. 5. Exercise of functions through nominees.

    4. 6. Target investment limit for Government shareholding.

  4. Financial provisions relating to the successor company

    1. 7. Financial structure of the successor company.

    2. 8. Loans by Secretary of State to successor company.

    3. 9. Temporary restrictions on successor company’s borrowings etc.

  5. Dissolution of the Corporation

    1. 10. Dissolution of the Corporation.

  6. Supplementary provisions

    1. 11. Corporation tax.

    2. 12. Application of Trustee Investments Act 1961 in relation to investment in the successor company.

    3. 13. Orders.

    4. 14. Administrative expenses.

    5. 15. Interpretation.

    6. 16. Consequential amendments, repeals and transitional provisions.

    7. 17. Short title, commencement and extent.


    1. SCHEDULE 1

      Provisions supplementary to s.1

      1. Provisions as to vesting of property etc. of Corporation

        1. 1.Any agreement made, transaction effected or other thing done by,...

        2. 2.Where immediately before the appointed day there is in force...

        3. 3.(1) It is hereby declared for the avoidance of doubt...

      2. Disqualification of certain directors of successor company

        1. 4.In the House of Commons Disqualification Act 1975, in Part...

    2. SCHEDULE 2


      1. Part I Repeals coming into force on appointed day

      2. Part II Repeals coming into force on dissolution of Corporation

    3. SCHEDULE 3

      Transitional Provisions and Savings

      1. Constitution of the Corporation

        1. 1.During the transitional period section 1(3) of the 1982 Act...

      2. Vesting of the Corporation’s foreign property etc. in the successor company

        1. 2.(1) It shall be the duty of the Corporation and...

      3. Application of enactments to certain continuing liabilities

        1. 3.Where any loan made to the Corporation under section 17...

        2. 4.(1) Where, as respects any financial year of the Corporation...

      4. Treasury guarantees

        1. 5.Subsections (2) to (5) of section 21 of the 1982...

      5. Final reports and accounts of the Corporation

        1. 6.(1) Notwithstanding the repeal of section 6(2) to (7) of,...

      6. Accounts of the Secretary of State

        1. 7.Notwithstanding the repeal of section 20 of the 1982 Act...

      7. Pensions and compensation payments

        1. 8.(1) The repeal by this Act of Schedule 3 to...

        2. 9.(1) Any provisions of the Iron and Steel (Pensions) (Dependants)...

        3. 10.(1) Where— (a) any regulations made under section 24 of...

      8. Savings in connection with transfers to the Corporation

        1. 11.The repeals made by this Act shall not affect—

      9. Payment of dividend by successor company before laying or delivery of accounts

        1. 12.(1) Where it is proposed to declare a distribution during...

Back to top


Print Options


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.


Opening Options

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


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 enactedversion 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