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Statutory Instruments

1988 No. 1376

IRON AND STEEL

The British Steel Act 1988 (Nominated Company) Order 1988

Made

2nd August 1988

The Secretary of State, in exercise of the power conferred on him by section 1(2) of the British Steel Act 1988(1) and after consulting the British Steel Corporation, hereby makes the following Order:—

1.  This Order may be cited as the British Steel Act 1988 (Nominated Company) Order 1988.

2.  The company nominated for the purposes of section 1 of the British Steel Act 1988 is British Steel plc (registered number 2280000).

Lord Young of Graffham

Secretary of State for Trade and Industry

2nd August 1988

Explanatory Note

(This note is not part of the Order)

Section 1(1) of the British Steel Act 1988 provides that, on such day as the Secretary of State may by order appoint, all the property, rights and liabilities to which the British Steel Corporation was entitled or subject immediately before that day shall (subject to section 2(3) of the Act which extinguishes any liability of the Corporation to the Secretary of State in respect of the Corporation’s public dividend capital) become by virtue of section 1 of the Act property, rights and liabilities of a company nominated for the purposes of the section by the Secretary of State.

This Order nominates for those purposes British Steel plc.