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British Leyland Act 1975 (repealed 5.11.1993)

1975 c. 43 · Enacted 3 July 1975 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 5 November 1993.

Annotations to the whole text

Textual amendments

F1

Act repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt. IX Group1

Contents

  1. 1Acquisition of shares.
  2. 2Short title.

1Acquisition of shares.

(1)

The Secretary of State may, with the consent of the Treasury, acquire shares—

(a)

in British Leyland Motor Corporation Limited; and

(b)

in any company formed for the purpose of acquiring shares in British Leyland Motor Corporation Limited.

(2)

The aggregate of—

(a)

the sums paid by the Secretary of State for shares acquired under this Act; and

(b)

the liabilities of the Secretary of State under agreements to acquire shares under this Act;

shall not exceed £265 million.

(3)

Any expenditure incurred by the Secretary of State in persuance of this Act shall be defrayed out of moneys provided by Parliament.

2Short title.

This Act may be cited as the British Leyland Act 1975.