- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
After section 96B of the 1977 Act there shall be inserted—
(1)The Secretary of State may form, or participate in forming, companies to provide facilities or services for—
(a)persons or bodies exercising functions, or otherwise providing services, under this Act; or
(2)The Secretary of State may, with a view to securing or facilitating the provision by companies of facilities or services for persons or bodies falling within subsection (1)(a) or (b)—
(a)invest in the companies (whether by acquiring assets, securities or rights or otherwise), or
(b)provide loans and guarantees and make other kinds of financial provision to or in respect of them,
(3)For the purposes of subsections (1) and (2) above it is immaterial that the facilities or services provided or to be provided by the companies in question are not provided or to be provided—
(a)only to persons or bodies falling within subsection (1)(a) or (b); or
(b)to persons or bodies falling within subsection (1)(a) only in their capacities as persons or bodies such as are mentioned in that provision.
(4)In this section—
“companies” means companies within the meaning of the Companies Act 1985 (c. 6);
“facilities” includes the provision of (or of the use of) premises, goods, materials, vehicles, plant or apparatus.
(5)This section is without prejudice to any powers of the Secretary of State exercisable otherwise than by virtue of this section.”
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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