Introductory Text
Introductory
1.Title and commencement
2.Interpretation
Transfer of statutory port undertakings
3.Formation of companies for purposes of transfer of certain statutory port undertakings
4.Transfer of undertakings
Disposal of ownership of the successor company
5.Initial issue of securities of the successor company
6.Disposal by the authority of its holding in the successor company
7.Control by the Department over exercise of authority’s functions under Articles 5 and 6
8.Supplementary provisions as to authority’s functions
9.Dissolution of the authority
10.Treatment of net proceeds of disposal of ownership
Procedure for schemes
11.Schemes made by a relevant port authority
12.Schemes initiated by the Department
13.The annual turnover requirement for the purposes of Article 12
14.Schemes made by the Department
Levy on initial disposals of securities of successor companies
15.Levy on initial disposals of securities of successor companies
16.Payment of levy
17.Information for purposes of levy
18.Supplementary and consequential provisions relating to levy
Levy on disposals of land, etc.
19.Levy on disposals of land, etc.
20.Supplementary and consequential provisions relating to levy under Article 19
Employee participation
21.Maximising employee participation
22.Financial assistance for proposals to maximise employee participation in equity of successor companies
Miscellaneous
23.Stamp duty
24.Directions
25.Orders
Signature
Schedule
Supplementary provisions with respect to transfers under Article 4.
Explanatory Note