1990 No. 1083
WATER, ENGLAND AND WALES

The Water (Target Investment Limit) Order 1990

Made
Laid before Parliament
Coming into force
Whereas each company listed in the Schedule is the nominated holding company1 of a successor company to a water authority;

And whereas each company ceased to be wholly owned by the Crown on 12th December 1989;

And whereas the proportion of the ordinary voting rights in fact carried by the Government shareholding in each company at thetime when this Order is made is as shown in the Schedule;

And whereas no previous order has been made fixing a target investment limit for the Government shareholding in any such company;

Now, therefore, the Secretary of State for Wales in relation to Welsh Water p.l.c. and the Secretary of State for the Environment in relation to all the other companies, in exercise of the powers conferred on them by section 89 of the Water Act 19892 and of all otherpowers enabling them in that behalf, hereby make the following Order:

Citation and commencement1.

This Order may be cited as the Water (Target Investment Limit) Order 1990 and shall come into force on 11th June 1990.

Target investment limit2.

The target investment limit for the Government shareholding in each company listed in the Schedule expressed as a proportion of the ordinary voting rights shall be as specified therein.

David Hunt
Secretary of State for Wales
Chris Patten
Secretary of State for the Environment

SCHEDULETARGET INVESTMENT LIMITS

Nominated holding company

Government shareholding as a proportion of the ordinary voting rights

Target investment limit as a proportion of the ordinary voting rights

Anglian Water p.l.c.

1.79 per cent

2.04 per cent

Northumbrian Water p.l.c.

1.25 per cent

1.50 per cent

North West Water Group

1.73 per cent

1.98 per cent

Severn Trent p.l.c.

1.92 per cent

2.17 per cent

Southern Water p.l.c.

1.84 per cent

2.09 per cent

South West Water p.l.c.

1.16 per cent

1.41 per cent

Thames Water p.l.c.

2.21 per cent

2.46 per cent

Welsh Water p.l.c.

1.81 per cent

2.06 per cent

Wessex Water p.l.c.

1.78 per cent

2.03 per cent

Yorkshire Water p.l.c.

1.98 per cent

2.23 per cent

(This note is not part of the Order)

This Order fixes target investment limits for the Government shareholding in the privatised water companies. The limits are expressed as a proportion of voting rights exercisable in all circumstances at general meetings of the companies. The Government shareholding must normally be kept within these limits.