Ordnance Factories and Military Services Act 1984
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Change 1
5 Government investment.
(1) The Secretary of State may at any time, with the Treasury’s consent, acquire— (a) securities of any successor company or of any subsidiary of any successor company, or (b) rights to subscribe for any such securities. (2) The Secretary of State may not dispose of any securities or rights acquired under this section unless the disposal is made with the Treasury’s consent. (3) Any person nominated by the Treasury may acquire securities or rights mentioned in subsection (1)(a) or (b), to be held and dealt with by that person on the Treasury’s behalf in such manner as the Treasury may direct. (4) Any expenses incurred by the Secretary of State or the Treasury in consequence of this section shall be paid out of money provided by Parliament. (5) Any dividends or other sums received by the Secretary of State or the Treasury in right of, or on the disposal of, any securities or rights acquired under this section shall be paid into the Consolidated Fund. (6) In this section “successor company” means a company in which any property, right or liability has vested by virtue of a provision made under section 1(1).
5 Government investment.
(1) The Secretary of State may at any time, with the Treasury’s consent, acquire— (a) securities of any successor company or of any subsidiary of any successor company, or (b) rights to subscribe for any such securities. (2) The Secretary of State may not dispose of any securities or rights acquired under this section unless the disposal is made with the Treasury’s consent. (3) Any person nominated by the Treasury may acquire securities or rights mentioned in subsection (1)(a) or (b), to be held and dealt with by that person on the Treasury’s behalf in such manner as the Treasury may direct. (4) Any expenses incurred by the Secretary of State or the Treasury in consequence of this section shall be paid out of money provided by Parliament. (5) Any dividends or other sums received by the Secretary of State or the Treasury in right of, or on the disposal of, any securities or rights acquired under this section shall be paid into the Consolidated Fund. (6) In this section “successor company” means a company in which any property, right or liability has vested by virtue of a provision made under section 1(1).
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