Steel Industry (Nationalisation) Act 2026
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Change 1
13 Onward share transfer
(1) This section applies where the Secretary of State has made share transfer regulations under section 4 in respect of securities issued by a steel undertaking (“the original regulations”). (2) The Secretary of State may make onward share transfer regulations. (3) Onward share transfer regulations are share transfer regulations which— (a) provide for the transfer of— (i) securities which were issued by the steel undertaking before the original regulations and have been transferred by the original regulations or supplemental share transfer regulations, or (ii) securities which were issued by the steel undertaking after the original regulations; (b) make other provision for the purposes of, or in connection with, the transfer of securities issued by the steel undertaking (whether the transfer has been or is to be effected by those regulations, by other share transfer regulations or otherwise). (4) Onward share transfer regulations may transfer securities to any person other than the transferor under the original regulations. (5) Subject to subsection (4), onward share transfer regulations are to be treated in the same way as any other share transfer regulations for all other purposes, including for the purposes of the application of a power under this Part.
13 Onward share transfer
(1) This section applies where the Secretary of State has made share transfer regulations under section 4 in respect of securities issued by a steel undertaking (“the original regulations”). (2) The Secretary of State may make onward share transfer regulations. (3) Onward share transfer regulations are share transfer regulations which— (a) provide for the transfer of— (i) securities which were issued by the steel undertaking before the original regulations and have been transferred by the original regulations or supplemental share transfer regulations, or (ii) securities which were issued by the steel undertaking after the original regulations; (b) make other provision for the purposes of, or in connection with, the transfer of securities issued by the steel undertaking (whether the transfer has been or is to be effected by those regulations, by other share transfer regulations or otherwise). (4) Onward share transfer regulations may transfer securities to any person other than the transferor under the original regulations. (5) Subject to subsection (4), onward share transfer regulations are to be treated in the same way as any other share transfer regulations for all other purposes, including for the purposes of the application of a power under this Part.
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