27SAny local enterprise company, that is to say any company ( [F1as defined in section 1(1) of the Companies Act 2006] )—
(a)which is a wholly owned subsidiary ( [F2as defined in section 1159 of that Act] ) of Scottish Enterprise or Highlands and Islands Enterprise, and
(b)with which an agreement (not being one which has terminated) has been made in pursuance of section 19 of the Enterprise and New Towns (Scotland) Act 1990 (c.35) by Scottish Enterprise or Highlands and Islands Enterprise for the discharge by that company of any of the functions of Scottish Enterprise or, as the case may be, Highlands and Islands Enterprise.
Textual Amendments
F1Words in sch. 2 para. 27 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. 201(a) (with art. 10)
F2Words in sch. 2 para. 27(a) 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. 201(b) (with art. 10)