Steel Industry (Nationalisation) Act 2026
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Change 1
4 Share transfer regulations
(1) The Secretary of State may make regulations (“share transfer regulations”) which provide for securities issued by a specified steel undertaking to be transferred to— (a) the Secretary of State, (b) a nominee of the Secretary of State, or (c) a company wholly owned by the Secretary of State. (2) Share transfer regulations may make other provision for the purposes of, or in connection with, the transfer of securities issued by a specified steel undertaking (whether the transfer has been or is to be effected by those regulations, by other share transfer regulations or otherwise). (3) Share transfer regulations may relate to— (a) specified securities, or (b) securities of a specified description. (4) When deciding whether to make share transfer regulations under this section in respect of a steel undertaking, the Secretary of State must consider the costs that the Secretary of State thinks are likely to be associated with the exercise of the power. (5) Share transfer regulations are subject to the negative procedure.
4 Share transfer regulations
(1) The Secretary of State may make regulations (“share transfer regulations”) which provide for securities issued by a specified steel undertaking to be transferred to— (a) the Secretary of State, (b) a nominee of the Secretary of State, or (c) a company wholly owned by the Secretary of State. (2) Share transfer regulations may make other provision for the purposes of, or in connection with, the transfer of securities issued by a specified steel undertaking (whether the transfer has been or is to be effected by those regulations, by other share transfer regulations or otherwise). (3) Share transfer regulations may relate to— (a) specified securities, or (b) securities of a specified description. (4) When deciding whether to make share transfer regulations under this section in respect of a steel undertaking, the Secretary of State must consider the costs that the Secretary of State thinks are likely to be associated with the exercise of the power. (5) Share transfer regulations are subject to the negative procedure.
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