Steel Industry (Nationalisation) Act 2026
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Change 1
29 Connected reverse property transfer regulations
(1) This section applies where the Secretary of State has made connected property transfer regulations under section 28(2) (“the original regulations”). (2) The Secretary of State may make connected reverse property transfer regulations in respect of property, rights or liabilities of the transferee under the original regulations (whether or not they were transferred by the original regulations). (3) Connected reverse property transfer regulations are property transfer regulations which— (a) provide for transfer to the transferor under the original regulations; (b) make other provision for the purposes of, or in connection with, the transfer of property, rights or liabilities which are, could be or could have been transferred (whether the transfer has been or is to be effected by those regulations or otherwise). (4) The written consent of the transferee is required to the making of connected reverse property transfer regulations under this section, except where the transferee is— (a) a nominee of the Secretary of State, or (b) a company wholly owned by the Secretary of State. (5) Connected reverse 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. (6) Section 25 (power to make supplemental property transfer regulations) applies to connected reverse property transfer regulations as it applies to property transfer regulations made under section 15.
29 Connected reverse property transfer regulations
(1) This section applies where the Secretary of State has made connected property transfer regulations under section 28(2) (“the original regulations”). (2) The Secretary of State may make connected reverse property transfer regulations in respect of property, rights or liabilities of the transferee under the original regulations (whether or not they were transferred by the original regulations). (3) Connected reverse property transfer regulations are property transfer regulations which— (a) provide for transfer to the transferor under the original regulations; (b) make other provision for the purposes of, or in connection with, the transfer of property, rights or liabilities which are, could be or could have been transferred (whether the transfer has been or is to be effected by those regulations or otherwise). (4) The written consent of the transferee is required to the making of connected reverse property transfer regulations under this section, except where the transferee is— (a) a nominee of the Secretary of State, or (b) a company wholly owned by the Secretary of State. (5) Connected reverse 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. (6) Section 25 (power to make supplemental property transfer regulations) applies to connected reverse property transfer regulations as it applies to property transfer regulations made under section 15.
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