Steel Industry (Nationalisation) Act 2026
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2 Exercise of principal transfer powers in the public interest
(1) The Secretary of State may exercise a principal transfer power in respect of a steel undertaking only if the Secretary of State considers it necessary to do so in the public interest. (2) The public interest for the purposes of subsection (1) includes (but is not limited to) the public interest in any of the following— (a) defence and national security; (b) the construction, maintenance and operation of critical infrastructure in the United Kingdom; (c) supporting the economy of the United Kingdom or any part of the United Kingdom. (3) In this Act, “principal transfer power” means a power under— (a) section 4(1) (share transfer regulations); (b) section 15(1) (property transfer regulations).
2 Exercise of principal transfer powers in the public interest
(1) The Secretary of State may exercise a principal transfer power in respect of a steel undertaking only if the Secretary of State considers it necessary to do so in the public interest. (2) The public interest for the purposes of subsection (1) includes (but is not limited to) the public interest in any of the following— (a) defence and national security; (b) the construction, maintenance and operation of critical infrastructure in the United Kingdom; (c) supporting the economy of the United Kingdom or any part of the United Kingdom. (3) In this Act, “principal transfer power” means a power under— (a) section 4(1) (share transfer regulations); (b) section 15(1) (property transfer regulations).
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