Amendment of the Aberdeen and District Milk Marketing Scheme

5.  The Aberdeen and District Milk Marketing Scheme shall be amended as follows:–

(a) by inserting in section 2(1) thereof–

(i) after the definition of “commercial activities” the following definition:–

““company” has the same meaning as in section 735(1)(a) of the Companies Act 1985;”;

(ii) after the definition of “statutory poll” the following definition:–

““subsidiary” has the same meaning as it has for the purposes of section 736 of the Companies Act 1985;”;

(b) by renumbering section 17 as section “17(1)”; and

(c) by inserting after section 17(1) the following paragraphs:–

“(2) For the purpose of complying with this section the Board may if it thinks fit and with the approval of the Minister–

(a) form a company to carry out commercial activities or to form a subsidiary to carry out commercial activities;

(b) transfer to that company such assets, rights or liabilities as are necessary;

(c) make available to or for that company or that subsidiary on prevailing market terms, loans, guarantees or other financial benefits.

(3) For so long as and to the extent that any commercial activities of the Board are, under this section, carried out by a company or a subsidiary of that company–

(a) they shall be the activities of that company or that subsidiary;

(b) reference to their commercial activities in sections 27(3)(b) and 39(2) and (7) of the Scheme shall be construed accordingly; and

(c) reference to the Board’s accounts and records in section 39 o f the Scheme shall be construed as including a reference to that company’s accounts and records and, if applicable, that subsidiary’s accounts and records.”.