(This note is not part of the Order)
Article 2 of this Order transfers the property, rights and liabilities of British Shipbuilders and its subsidiaries to the Secretary of State for Business, Innovation and Skills.
Article 3 makes provision supplemental to those transfers.
Article 4 abolishes British Shipbuilders, established under section 1(1)(b) of the Aircraft and Shipbuilding Industries Act 1977 (c.3), and abolishes its subsidiaries.
Article 5 makes consequential repeals, revocations and amendments of Acts and other instruments specified in Schedules 1 and 2. Article 5 also removes the reference to British Shipbuilders in Schedule 1 to the Public Bodies Act 2011 (c.24).
A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen. The explanatory document is published with this Order on www.legislation.gov.uk.