Change 1 Article Choose an article Title and introductory text 1 The Independent Television Commission. 2 Regulation by Commission of provision of television services. 3 Licences under Part I. 4 General licence conditions. 5 Restrictions on the holding of licences. 6 General requirements as to licensed services. 7 General code for programmes. 8 General provisions as to advertisements. 9 Control of advertisements. 10 Government control over licensed services. 11 Monitoring by Commission of programmes included in licensed services. 12 Audience research. 13 Prohibition on providing television services without a licence. 14 Establishment of Channel 3. 15 Applications for Channel 3 licences. 16 Procedure to be followed by Commission in connection with consideration of applications for licences. 17 Award of licence to person submitting highest cash bid. 17A Award of Channel 3 licence subject to conditions. 18 Failure to begin providing licensed service and financial penalties on revocation of licence. 18A Section 18: supplementary provision 19 Additional payments to be made in respect of Channel 3 licences. 20 Duration and renewal of Channel 3 licences. 21 Restriction on changes in control over Channel 3 licence holder. 21A Variation of regional Channel 3 licence following change of control. 22 Temporary provision of regional Channel 3 service for additional area. 23A Sustainability duty of Corporation 24 Channel 4 to be provided by Corporation as licensed service. 26 Revenue deficits of Corporation to be funded by Channel 3 licensees. 27 Application of excess revenues of Corporation. 28 Channel 5. 29 Application to Channel 5 of provisions relating to Channel 3. 30 Initial Channel 5 licensee required to retune equipment susceptible to interference. 31 Provision of news on Channels 3 and 5. 31A Appointment of news provider by holders of regional Channel 3 licences. 32 Nomination of bodies to provide news for regional Channel 3 services. 33 Conditions requiring holder of Channel 3 or Channel 5 licence to deliver promised service. 34 Schools programmes. 35 Subtitling for the deaf. 36 Party political broadcasts. 37 Announcements of programme schedules. 38 Promotion of equal opportunities in relation to employment by licence holder. 39 Networking arrangements between holders of regional Channel 3 licences. 40 Power to direct licensee to broadcast correction or a statement of findings or not to repeat programme. 41 Power to impose financial penalty or shorten licence period. 42 Power to revoke Channel 3 or 5 licence. 42A Restricted services. 42B Licensing etc. of restricted services. 43 Satellite television services. 44 Licensing etc. of domestic satellite services. 45 Licensing etc. of satellite television services. 45A Special power of revocation and suspension on certain grounds in case of licence to provide satellite television service. 46 Licensable programme services. 47 Licensing etc. of licensable programme services. 48 Additional services. 49 Licensing of additional services. 50 Applications for additional services licences. 51 Procedure to be followed by Commission in connection with consideration of applications for, and awarding of, licences. 52 Additional payments to be made in respect of additional services licences. 53 Duration of licences, and renewal of licences for provision of services on assigned frequencies. 54 Additional services not to interfere with other transmissions. 55 Enforcement of additional services licences. 56 Welsh Authority to continue in existence as Sianel Pedwar Cymru. 56A The S4C Board 57 Function and duties of Welsh Authority. 58 Sources of programmes for S4C. 59 Requirements to be complied with in relation to S4C programmes. 60 Advertising on S4C. 61 Funding of S4C. 61A S4C public service fund. 62 Information to be supplied to Commission by Welsh Authority. 63 Government control over S4C. 64 Audience research by S4C. 65 Assignment of frequencies by Secretary of State. 66 Requirements relating to transmission and distribution of services. 66A Enforcement of licences held by BBC companies. 67 Computation of qualifying revenue. 68 Certain receipts of Commission to be paid into Consolidated Fund. 69 Frequency planning and research and development. 70 Representation by Commission of Government and other interests in connection with broadcasting matters. 71 Interpretation of Part I. 83 The Radio Authority. 84 Regulation by Authority of independent radio services. 85 Licensing functions of Authority. 86 Licences under Part III. 87 General licence conditions. 88 Restrictions on the holding of licences. 89 Disqualification for holding licence on grounds of conviction for transmitting offence. 90 General requirements as to licensed services. 91 General code for programmes. 92 General provisions as to advertisements. 93 Control of advertisements. 94 Government control over licensed services. 95 Monitoring by Authority of programmes included in licensed services. 96 Audience research. 97 Prohibition on providing independent radio services without a licence. 97A Date for digital switchover 97B Variation of licence period after date for digital switchover nominated 98 Applications for national licences. 99 Procedure to be followed by Authority in connection with consideration of applications for national licences. 100 Award of national licence to person submitting highest cash bid. 100A Licence conditions relating to simulcast radio services 101 Failure to begin providing licensed service and financial penalties on revocation of licence. 102 Additional payments to be made in respect of national licences. 103 Restriction on changes in control over holder of national licence. 103A Renewal of national licences. 103B Further renewal of national licences 104 Applications for licences: local services and restricted services 104A Renewal of local licences. 104AA Further renewal of local licences 104AB Renewal under section 104AA: nomination of national services 104AC Variation of conditions relating to digital services 104B Special application procedure for local licences. 105 Special requirements relating to grant of local licences. 105A Variation of licence period following renewal 106 Requirements as to character and coverage of national and local services. 106ZA Consultation about change of character of local services 106A Variation of local licence following change of control. 107 Party political broadcasts. 108 Promotion of equal opportunities in relation to employment by holder of national licence. 109 Power to require scripts etc. or broadcasting of correction or a statement of findings. 110 Power to impose financial penalty or suspend or shorten licence period. 111 Power to revoke licences. 111A Enforcement of licences held by BBC companies. 111B Suspension of licences for inciting crime or disorder 112 Licensable sound programme services. 113 Licensing etc. of licensable sound programme services. 114 Additional services. 115 Licensing of additional services. 116 Applications for additional services licences. 117 Procedure to be followed by Authority in connection with consideration of applications for, and awarding of, licences. 118 Additional payments to be made in respect of additional services licences. 119 Additional services not to interfere with other transmissions. 120 Enforcement of additional services licences. 121 Computation of qualifying revenue. 122 Certain receipts of Authority to be paid into Consolidated Fund. 123 Frequency planning and general research and development. 124 Authority to assist Secretary of State in connection with licensing functions under 1949 Act. 125 Representation by Authority of Government and other interests in connection with broadcasting matters. 126 Interpretation of Part III. 127 Division of assets of IBA and their dissolution. 128 Vesting in Commission of assets of Cable Authority and dissolution of Authority. 129 Transitional arrangements relating to IBA’s broadcasting services. 130 Variation of programme contracts to take account of new transmission arrangements. 131 Supplementary provisions relating to variation of programme contracts. 132 Disposal by IBA of DBS transmitting equipment etc. 133 Functions exercisable by IBA before transfer date in connection with local sound broadcasting. 134 Transitional arrangements relating to existing cable services. 135 Initial Government holding in nominated company. 136 Exercise of functions through nominees. 137 Target investment limit for Government shareholding in nominated company. 138 Reserves of nominated company. 139 Loans by Secretary of State to nominated company. 140 Temporary restriction on borrowings of nominated company. 141 Interpretation of Part IV. 142 The Broadcasting Complaints Commission. 143 Function of BCC. 144 Making and entertaining of complaints. 145 Consideration of complaints. 146 Publication of BCC’s findings. 147 Duty to publicise BCC. 148 Annual reports. 149 Contributions towards cost of BCC. 150 Interpretation of Part V. 151 The Broadcasting Standards Council. 152 Preparation by Council of code relating to broadcasting standards. 153 Monitoring by Council of broadcasting standards. 154 Consideration by Council of complaints relating to broadcasting standards. 155 Consideration of complaints. 156 Publication of Council’s findings. 157 Power of Council to commission research. 158 International representation by Council of Government interests. 159 Duty to publicise Council. 160 Annual reports. 161 Interpretation of Part VI. 162 Obscenity in programme services: England and Wales. 163 Obscenity in programme services: Scotland. 164 Inclusion in programme services in Great Britain of racially inflammatory material. 165 Inclusion in programme services in Northern Ireland of material likely to stir up hatred etc. 166 Defamatory material. 167 Power to make copies of recordings. 168 Offence of keeping wireless telegraphy station or apparatus available for unauthorised use. 169 Offence of allowing premises to be used for purpose of unlawful broadcasting. 170 Prohibition of acts facilitating unauthorised broadcasting. 171 Amendments of the Marine, &c., Broadcasting (Offences) Act 1967. 172 Amendments of provisions of 1949 Act relating to penalties and forfeiture. 173 Extension of search and seizure powers in relation to unlawful broadcasting etc. 174 Application of Part VIII to Isle of Man and Channel Islands. 175 Use as of right of sound recordings in broadcasts and cable programme services. 176 Duty to provide advance information about programmes. 177 Orders proscribing unacceptable foreign satellite services. 178 Offence of supporting proscribed foreign satellite services. 179 Unauthorised decoders for encrypted services etc. 180 Transfer to BBC of functions connected with television licences. 181 Certain apparatus to be deemed to be apparatus for wireless telegraphy. 182 . 183 Financing of programmes in Gaelic out of Gaelic Television Fund. 183A Membership of the Gaelic Media Service 184 Broadcasting of programmes in Gaelic on Channel 3 in Scotland. 185 Contributions towards maintenance of national television archive. 186 Duty of BBC to include independent productions in their television services. 187 Information to be furnished by BBC for purposes of reports under section 186. 188 Power to give broadcasting bodies etc. directions relating to international obligations. 189 Sharing of apparatus by operators of telecom- munication systems. 190 Modification of certain references in Telecom- munications Act licences. 191 Revocation of class licence to run broadcast relay systems. 192 Application of provisions of Fair Trading Act 1973 to broadcasting and telecommunication services. 193 Modification of networking arrangements in consequence of competition legislation 194 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194A Modification of Restrictive Trade Practices Act 1976 in its application to agreements relating to Channel 3 news provision. 195 Offences by bodies corporate. 196 Entry and search of premises. 197 Restriction on disclosure of information. 198 Financial provisions. 199 Notices. 200 Regulations and orders. 201 Programme services. 202 General interpretation. 203 Consequential and transitional provisions. 204 Short title, commencement and extent. SCHEDULE 2 Restrictions on the Holding of Licences SCHEDULE 3 The Channel Four Television Corporation: Supplementary Provisions SCHEDULE 6 S4C: Supplementary Provisions Schedule 6A The S4C Board SCHEDULE 7 Qualifying Revenue: Supplementary Provisions SCHEDULE 9 Scheme Providing for Division of Assets of IBA SCHEDULE 10 Supplementary Provisions Relating To Dissolution of Cable Authority SCHEDULE 11 Transitional Provisions Relating to IBA’s Broadcasting Services SCHEDULE 13 SCHEDULE 14 SCHEDULE 15 Application of 1959 Act to Television and Sound Programmes SCHEDULE 17 Information About Programmes: Copyright SCHEDULE 18 Transfer of Functions Connected with Television Licences SCHEDULE 19 The Gaelic Television Service : Supplementary Provisions SCHEDULE 20 Minor and Consequential Amendments SCHEDULE 21 Repeals SCHEDULE 22 Transitional Provisions and Savings
What to do with it
As published
138 Reserves of nominated company.
(1) If the Secretary of State so directs at any time before the nominated company ceases to be wholly owned by the Crown, such sums as may be specified in the direction shall, instead of being applied in any other way, be carried by the company to a reserve (“the statutory reserve”).
(2) The statutory reserve may only be applied by the nominated company in paying up unissued shares of the company to be allotted to members of the company as fully paid bonus shares.
(3) Notwithstanding subsection (2), the statutory reserve shall not count as an undistributable reserve of the nominated company for the purposes of section 831(4)(d) of the Companies Act 2006 (restriction on distribution of assets); but, for the purpose of determining under that section whether the nominated company may make a distribution at any time, any amount for the time being standing to the credit of the statutory reserve shall be treated for the purposes of section 831(4)(c) as if it were unrealised profits of the company.
Your wording
Your change, as a redline
138 Reserves of nominated company.
(1) If the Secretary of State so directs at any time before the nominated company ceases to be wholly owned by the Crown, such sums as may be specified in the direction shall, instead of being applied in any other way, be carried by the company to a reserve (“the statutory reserve”).
(2) The statutory reserve may only be applied by the nominated company in paying up unissued shares of the company to be allotted to members of the company as fully paid bonus shares.
(3) Notwithstanding subsection (2), the statutory reserve shall not count as an undistributable reserve of the nominated company for the purposes of section 831(4)(d) of the Companies Act 2006 (restriction on distribution of assets); but, for the purpose of determining under that section whether the nominated company may make a distribution at any time, any amount for the time being standing to the credit of the statutory reserve shall be treated for the purposes of section 831(4)(c) as if it were unrealised profits of the company.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.