Steel Industry (Nationalisation) Act 2026
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Change 1
28 Property transfer connected with 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. (2) The Secretary of State may make connected property transfer regulations. (3) Connected property transfer regulations are property transfer regulations which— (a) provide for property, rights or liabilities of the steel undertaking to be transferred (whether accruing or arising before or after the share transfer regulations referred to in subsection (1)); (b) make other provision for the purposes of, or in connection with, the transfer of property, rights or liabilities of the steel undertaking (whether the transfer has been or is to be effected by those regulations, by other property transfer regulations or otherwise). (4) Connected property transfer regulations are to be treated in the same way as any other property transfer regulations for all other purposes, including for the purposes of the application of a power under this Part. (5) Section 25 (power to make supplemental property transfer regulations) applies to connected property transfer regulations as it applies to property transfer regulations made under section 15.
28 Property transfer connected with 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. (2) The Secretary of State may make connected property transfer regulations. (3) Connected property transfer regulations are property transfer regulations which— (a) provide for property, rights or liabilities of the steel undertaking to be transferred (whether accruing or arising before or after the share transfer regulations referred to in subsection (1)); (b) make other provision for the purposes of, or in connection with, the transfer of property, rights or liabilities of the steel undertaking (whether the transfer has been or is to be effected by those regulations, by other property transfer regulations or otherwise). (4) Connected property transfer regulations are to be treated in the same way as any other property transfer regulations for all other purposes, including for the purposes of the application of a power under this Part. (5) Section 25 (power to make supplemental property transfer regulations) applies to connected property transfer regulations as it applies to property transfer regulations made under section 15.
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