Steel Industry (Nationalisation) Act 2026
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Change 1
33 General continuity obligations: property transfers
(1) This section applies where all or part of the business of a steel undertaking (the “residual steel undertaking”) has been transferred in accordance with property transfer regulations. (2) The residual steel undertaking and each group company must provide such services and facilities as are required to enable a transferee to operate the transferred business, or part of it, effectively. (3) The duty under subsection (2) (“the continuity obligation”) may be enforced as if created by contract between the residual steel undertaking or group company and the transferee. (4) The continuity obligation continues to apply despite the residual steel undertaking or group company entering insolvency, and may not be disclaimed by a liquidator under section 178(2) of the Insolvency Act 1986 or Article 152(1) of the Insolvency (Northern Ireland) Order 1989(S.I. 1989/2405 (N.I. 19)). (5) The duty to provide services and facilities in pursuance of the continuity obligation is subject to a right to receive reasonable consideration. (6) But if the services and facilities provided in pursuance of the continuity obligation were provided to the steel undertaking whose business has been transferred, under an agreement with that undertaking, before the property transfer regulations providing for the transfer were made, they are to continue for the duration of that agreement to be provided on the terms set out in that agreement (and subsection (5) does not apply). (7) The continuity obligation is not limited to the provision of services or facilities directly to a transferee. (8) The Secretary of State may by notice to the residual steel undertaking or a group company state that in the Secretary of State’s opinion— (a) specified activities are required to be undertaken in accordance with the continuity obligation; (b) activities are required be undertaken in accordance with the continuity obligation on specified terms. (9) A notice under subsection (8) is determinative of the nature and extent of the continuity obligation as from the time when the notice is given. (10) In this section and section 34— “group company” means anything which is, or was immediately before the transfer, a group undertaking in relation to a residual steel undertaking; “group undertaking” has the meaning given by section 1161(5) of the Companies Act 2006; “residual steel undertaking” has the meaning given by subsection (1); “transferee” means the person to whom all or part of the transferred business has been transferred; “the transferred business” means the part of the steel undertaking’s business that has been transferred. (11) In this section and section 34, a reference to insolvency includes a reference to— (a) liquidation; (b) administration; (c) receivership; (d) composition with creditors; (e) a scheme of arrangement.
33 General continuity obligations: property transfers
(1) This section applies where all or part of the business of a steel undertaking (the “residual steel undertaking”) has been transferred in accordance with property transfer regulations. (2) The residual steel undertaking and each group company must provide such services and facilities as are required to enable a transferee to operate the transferred business, or part of it, effectively. (3) The duty under subsection (2) (“the continuity obligation”) may be enforced as if created by contract between the residual steel undertaking or group company and the transferee. (4) The continuity obligation continues to apply despite the residual steel undertaking or group company entering insolvency, and may not be disclaimed by a liquidator under section 178(2) of the Insolvency Act 1986 or Article 152(1) of the Insolvency (Northern Ireland) Order 1989(S.I. 1989/2405 (N.I. 19)). (5) The duty to provide services and facilities in pursuance of the continuity obligation is subject to a right to receive reasonable consideration. (6) But if the services and facilities provided in pursuance of the continuity obligation were provided to the steel undertaking whose business has been transferred, under an agreement with that undertaking, before the property transfer regulations providing for the transfer were made, they are to continue for the duration of that agreement to be provided on the terms set out in that agreement (and subsection (5) does not apply). (7) The continuity obligation is not limited to the provision of services or facilities directly to a transferee. (8) The Secretary of State may by notice to the residual steel undertaking or a group company state that in the Secretary of State’s opinion— (a) specified activities are required to be undertaken in accordance with the continuity obligation; (b) activities are required be undertaken in accordance with the continuity obligation on specified terms. (9) A notice under subsection (8) is determinative of the nature and extent of the continuity obligation as from the time when the notice is given. (10) In this section and section 34— “group company” means anything which is, or was immediately before the transfer, a group undertaking in relation to a residual steel undertaking; “group undertaking” has the meaning given by section 1161(5) of the Companies Act 2006; “residual steel undertaking” has the meaning given by subsection (1); “transferee” means the person to whom all or part of the transferred business has been transferred; “the transferred business” means the part of the steel undertaking’s business that has been transferred. (11) In this section and section 34, a reference to insolvency includes a reference to— (a) liquidation; (b) administration; (c) receivership; (d) composition with creditors; (e) a scheme of arrangement.
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