Steel Industry (Nationalisation) Act 2026
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Change 1
3 Sunset for exercise of principal transfer powers
(1) The Secretary of State may not exercise a principal transfer power after the end of the period of 2 years beginning with the day on which this Act is passed. (2) Where regulations made under a principal transfer power are in force at the end of the period specified in subsection (1), that subsection does not affect the continued operation of the regulations. (3) The Secretary of State may, before the end of the period for the time being specified in subsection (1), by regulations substitute a different period for the period so specified. (4) The power under subsection (3)— (a) may be exercised more than once, but (b) may not be exercised so as to substitute a period that ends more than 2 years after the end of the period for the time being specified in subsection (1). (5) Regulations under subsection (3) are subject to the affirmative procedure.
3 Sunset for exercise of principal transfer powers
(1) The Secretary of State may not exercise a principal transfer power after the end of the period of 2 years beginning with the day on which this Act is passed. (2) Where regulations made under a principal transfer power are in force at the end of the period specified in subsection (1), that subsection does not affect the continued operation of the regulations. (3) The Secretary of State may, before the end of the period for the time being specified in subsection (1), by regulations substitute a different period for the period so specified. (4) The power under subsection (3)— (a) may be exercised more than once, but (b) may not be exercised so as to substitute a period that ends more than 2 years after the end of the period for the time being specified in subsection (1). (5) Regulations under subsection (3) are subject to the affirmative procedure.
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