Dissolution of National Dock Labour Board
2Dissolution of National Dock Labour Board
(1)
As from the date of the passing of this Act it shall be the duty of the Board to wind up its affairs as expeditiously as possible.
(2)
The power conferred on the Board by section 1(3) shall accordingly be exercisable by the Board in such manner as appears to it to be consistent with the performance of its duty under subsection (1).
(3)
The Board shall comply with such directions as may be given to it by the Secretary of State with respect to—
(a)
the performance by it of its duty under subsection (1), or
(b)
the exercise by it of the power conferred by section 1(3).
(4)
If the Secretary of State and the Treasury consent, any disposal by the Board of any of its assets in the performance of its duty under subsection (1) may be made for a consideration which is less than the market value of the assets in question or for no consideration.
(5)
The Board shall be dissolved on such date as the Secretary of State may specify by order made by statutory instrument.
(6)
On that date all the property, rights and liabilities to which the Board was entitled or subject immediately before that date shall become property, rights and liabilities of the Secretary of State.
(7)
References in this Act to property, rights and liabilities of the Board are references to all such property, rights and liabilities, whether or not capable of being transferred or assigned by the Board.