British Aerospace Act 1980
British Aerospace Act 1980 (1980 c. 26)
- British Aerospace Act 1980 (1980 c. 26)
- Vesting of property, etc., of British Aerospace in a company nominated by the Secretary of State
- 1 Vesting of property, etc., of British Aerospace in a company nominated by the Secretary of State.
- 2 Cancellation of certain Government investment in British Aerospace.
- 3 Initial Government shareholding in the successor company.
- 4 Financial structure of the successor company and its subsidiaries.
- 5 Government investment in shares and securities of the successor company.
- 6 Exercise of Secretary of State’s functions under sections 3 and 5 through nominees.
- 7 Target investment limit for Government shareholding under sections 3 and 5.
- 8 Liability of the successor company for defaulting subsidiary where cause of action arose before appointed day.
- 9 Liability of Secretary of State in respect of obligations vesting in the successor company by virtue of section 1, etc.
- 10 Dissolution of British Aerospace and transitional provisions.
- Miscellaneous and supplemental
- 11 Application of Trustee Investments Act 1961 in relation to investment in the successor company.
- 12 Corporation tax and development land tax.
- 13 Administrative expenses.
- 14 Interpretation.
- 15 Citation, repeals and extent.
- SCHEDULES
- SCHEDULE 1 Effect of Section 1 in Certain Cases
- Modification of agreements
- Contracts of employment and pensions
- Regional development grants
- SCHEDULE 2 Transitional Provisions
- SCHEDULE 3 Enactments Repealed
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