The Transport Act 2000 (Designation of Transferee) Order 2001

Explanatory Note

(This note is not part of the Order)

This Order designates National Air Traffic Services (No. 2) Limited for the purposes of section 51 of the Transport Act 2000.

Section 51 of the Act applies when a transfer to a company as specified in subsection (1) of that section takes place and provides that, in relation to a company which is designated for the purposes of the section, the Secretary of State is under the following duties—

(a) to ensure that the Crown does not dispose of shares in the company unless satisfied that a scheme to complete the development of major facilities connected with air traffic services is in place;

(b) to ensure that the Crown does not dispose of shares in the company unless the Crown holds at least 49 per cent of the issued ordinary share capital before disposal and will continue to do so immediately after disposal;

(c) to ensure that at any given time the Crown holds at least 25 per cent of the company’s issued ordinary share capital;

(d) to ensure that the Crown continues to hold any special share in the company; and

(e) not, without the approval of Parliament, to consent to any alteration of the company’s articles of association which requires his consent on behalf of the Crown as special shareholder.