Section 26 Avoidance of restrictions on transfer of securities of public airport companies.

England, Wales and Scotland

(1)

Any provision to which this section applies shall be void in so far as it operates—

(a)

to preclude the holder of any securities of a public airport company from disposing of those securities or

(b)

to require the holder of any such securities to dispose, or offer to dispose, of those securities to particular persons or to particular classes of persons, or

(c)

to preclude the holder of any such securities from disposing of those securities except—

(i)

at a particular time or at particular times, or

(ii)

on the fulfilment of particular conditions or in other particular circumstances

(2)

This section applies to any provision relating to any securities of a public airport company and contained in—

(a)

the F1articles of association of the company or any other instrument purporting to regulate to any extent the respective rights and liabilities of the members of the company,

(b)

any resolution of the company, or

(c)

any instrument issued by the company and embodying terms and conditions on which any such securities are to be held by persons for the time being holding them.

Annotations

Textual amendments

F1: Words in s. 26(2)(a) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 68(3) (with art. 10)