The Electricity (Supply, Transmission and Generating Companies) (Target Investment Limits) Order 1991

Statutory Instruments

1991 No. 1199

ELECTRICITY

The Electricity (Supply, Transmission and Generating Companies) (Target Investment Limits) Order 1991

Made

16th May 1991

Laid before Parliament

20th May 1991

Coming into force

10th June 1991

Wheras each company whose name is listed in column 1 of the Schedule to this Order is an operating company(1) for the purpose of Part II of the Electricity Act 1989(2);

And whereas each such company, except National Power PLC and PowerGen plc, ceased to be wholly owned by the Crown on 11th December 1990, and National Power PLC and PowerGen plc ceased to be wholly owned by the Crown on 12th March 1991;

And whereas the Government shareholding (as defined in section 74(1) of the said Act of 1989) in each company at the time when this Order is made comprises shares in that company carrying the percentage specified against the name of the company in column 2 of that Schedule of the voting rights which are exercisable in all circumstances at general meetings of the company;

And whereas no previous order has been made fixing a target investment limit in relation to the Government shareholding (as defined as aforesaid) in any such company;

Now, therefore, the Secretary of State, in exercise of the powers conferred by section 74(1) of the Electricity Act 1989, and of all other enabling powers, and with the consent of the Treasury, hereby makes the following Order:—

(1)

See section 74(10) of the Electricity Act 1989, and the Electricity Act 1989 (Nominated Companies) (England and Wales) Order 1990 (S.I. 1990/224).

(2)

1989 c. 29.