http://www.legislation.gov.uk/ukpga/1986/31/section/20Airports Act 1986An Act to provide for the dissolution of the British Airports Authority and the vesting of its property, rights and liabilities in a company nominated by the Secretary of State; to provide for the reorganisation of other airport undertakings in the public sector; to provide for the regulation of the use of airports and for the imposition of economic controls at certain airports; to make other amendments of the law relating to airports; to make provision with respect to the control of capital expenditure by local authority airport undertakings; and for connected purposes.1986-07-08texttext/xmlenStatute Law Database2026-05-05Expert Participation2026-04-06 Airports Act 1986s. 59(7)(8)Planning (Consequential Provisions) (Wales) Act 2026Deddf Cynllunio (Darpariaethau Canlyniadol) (Cymru) 2026Sch. 2 para. 215(b)Sch. 5 Pt. 1s. 5(2)Airports Act 1986s. 61(6)(aa)Planning (Consequential Provisions) (Wales) Act 2026Deddf Cynllunio (Darpariaethau Canlyniadol) (Cymru) 2026Sch. 2 para. 216(6)(c)Sch. 5 Pt. 1s. 5(2)Airports Act 1986ActScotland Act 1998s. 30 Sch. 5 Pt. 2 s. E4(f)Airports Act 1986s. 12(1) (defn. of "principal council") para. (aa)Local Government (Wales) Act 1994s. 66(6) Sch. 16 para. 77Airports Act 1986s. 12(1) (defn. of "principal council") para. (a)Local Government (Wales) Act 1994s. 66(6)(8) Sch. 16 para. 77 Sch. 18Airports Act 1986s. 12(1) (defns. "local authority""principal council") para. (b)Local Government etc. (Scotland) Act 1994Sch. 13 para. 147Airports Act 1986ActThe Local Authorities (Executive and Alternative Arrangements) (Modification of Enactments and Other Provisions) (England) Order 2001art. 2 Part II201Without prejudice to the powers of a principal council—ato subscribe for shares on the formation of a company formed by them in pursuance of section 13, orbto acquire any shares in or other securities of a company formed in pursuance of that section by way of consideration for any transfer of property, rights and liabilities to that company under section 15(7),a principal council shall have power at any time to subscribe for, take up or acquire (as the case may be) any securities of any associated company.2A principal council shall have power to provide for the disp osal, in such manner as they think fit, of any such securities.3A local authority shall have power, with the consent of the Secretary of State, to acquire securities of any company which carries on the business of operating an airport as a commercial undertaking and is not an associated company (whether or not it is a public airport company or was formed in pursuance of section 13).4Subsections (1) and (3) are without prejudice to the operation of section 30(1)(a) of the 1982 Act (need for consent of Secretary of State to the maintenance of airports by local authorities).5A principal council who are the controlling authority of a public airport company, or (as the case may be) both or all of the constituent councils of a composite authority who are such a controlling authority, may, in exercising their power under subsection (2) in relation to the disposal of any securities of the company, provide for an employees’ share scheme to be established in respect of the company; and any such scheme may provide for the transfer of shares without consideration.6In subsection (5) “employees’ share scheme” means a scheme for encouraging or facilitating the holding of shares or debentures in a public airport company by or for the benefit of—athe bona fide employees or former employees of the company or of a subsidiary of the company; orbthe wives, husbands, widows, widowers , civil partners, surviving civil partners or children or step-children under the age of 18 of such employees or former employees.Words in s. 20(6)(b) inserted (5.12.2005) by Civil Partnership Act 2004 (c. 33), s. 263(10)(b), Sch. 27 para. 111; S.I. 2005/3175, art. 2(2)