GeneralU.K.
25 Interpretation: companies and shares.U.K.
(1)A company is wholly owned by the Crown for the purposes of this Act at any time when all its shares are held by the Crown.
(2)For the purposes of this Act shares are held by the Crown if they are held—
(a)by a Minister of the Crown or his nominee, or
(b)by a company of which all the shares are held by the Crown.
(3)The reference to a company in subsection (1) includes a reference to the Corporation on and after registration.
(4)A company is associated with the Corporation for the purposes of this Act if—
(a)it is designated for the purposes of this subsection by an order of the Secretary of State made by statutory instrument, and
(b)it is wholly owned by the Crown.
(5)The Secretary of State may designate a company for the purposes of this subsection by order made by statutory instrument; and a company which has at any time been designated for the purposes of this subsection may not be designated for the purposes of subsection (4).
26 Interpretation: general.U.K.
(1)In this Act—
(a)“securities” in relation to the Corporation or another company means shares (including stock), debentures, bonds and other securities, whether constituting a charge on the assets of the company or not,
(b)a reference to a company includes a reference to any body corporate, wherever incorporated,
(c)a reference to a nominee of a Minister of the Crown includes a reference to a person to whom section 19(2) applies, and
(d)a reference to a provision of the M1Commonwealth Development Corporation Act 1978 includes a reference to any relevant earlier enactment.
(2)An expression listed in the Table has the same meaning in this Act as in the specified provision of the M2Companies Act 1985[F1or the Companies Act 2006].
| [F2Expression | Defining provision |
|---|---|
| Allotment | Section 738 of the Companies Act 1985 |
| Called-up share capital | Section 737(1) of the Companies Act 1985 |
| Net assets | Section 831(2) of the Companies Act 2006 |
| Paid up | [F3Section 583 of the Companies Act 2006] |
| Registrar of companies | [F4Section 1060 of the Companies Act 2006] |
| Shadow director | Section 251 of the Companies Act 2006 |
| Undistributable reserves | Section 831(4) of the Companies Act 2006] |
Textual Amendments
F1Words in s. 26(2) inserted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), Sch. 1 para. 208(a) (with arts. 6, 11, 12)
F2S. 26(2) table substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), Sch. 1 para. 208(b) (with arts. 6, 11, 12)
F3Words in s. 26(2) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 177(3)(a) (with art. 10)
F4Words in s. 26(2) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 177(3)(b) (with art. 10)
Marginal Citations
27 Repeals.U.K.
The enactments listed in Schedule 4 shall on registration be repealed to the extent specified.
28 Short title and extent .U.K.
(1)This Act may be cited as the Commonwealth Development Corporation Act 1999.
(2)This Act extends to Northern Ireland.