The Industry Act 1975 (Prohibition and Vesting Order) Regulations 1998

Statutory Instruments

1998 No. 3035

MANUFACTURING UNDERTAKINGS

The Industry Act 1975 (Prohibition and Vesting Order) Regulations 1998

Made

5th December 1998

Laid before Parliament

10th December 1998

Coming into force

31st December 1998

The Secretary of State, being designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to matters relating to the avoidance of discrimination in relation to the transfer of control of important manufacturing undertakings to non-residents in exercise of the powers conferred by that section hereby make the following Regulations:

Title, commencement and extent

1.—(1) These Regulations may be cited as the Industry Act 1975 (Prohibition and Vesting Order) Regulations 1998 and shall come into force on 31st Decembe-r 1998.

(2) These Regulations extend to Northern Ireland.

Amendment to the Industry Act 1975

2.  Section 13 of the Industry Act 1975(3) (power to make prohibition and vesting orders) is amended by inserting after subsection (6):

“(7) In sections (1)(b) and (2)(c) “interests” means interests which relate to public policy, public security or public health.

(8) In subsection (3) “the national interest” means the national interest in relation to public policy, public security or public health.”.

Kim Howells

Parliamentary Under Secretary of State for Competition and Consumer Affairs,

Department of Trade and Industry

5th December 1998

Explanatory Note

(This note is not part of the Order)

This Order defines “interests” and “national interest” for the purpose of the powers conferred on the Secretary of State by the Industry Act 1975 in respect of change of control of important manufacturing undertakings in terms of the grounds on which restrictions on the right of establishment of nationals of other Member States of the European Community are permitted under Article 56 of the EC Treaty.

(1)

S.I. 1995/262.

(2)

1972 c. 68.

(3)

1975 c. 68.