Explanatory note

Section 1(1) of the British Technology Group Act 1991 provides that, on such day as the Secretary of State may by order appoint (“the appointed day”), all the property, rights and liabilities to which the National Research Development Corporation (“the Corporation”) or the National Enterprise Board (“the Board”) was entitled or subject immediately before that day shall (subject to section 2 of the Act which extinguishes the reserve established by the Corporation under section 10 of the Development of Inventions Act 1967 (c. 32) and any liability of the Board to the Secretary of State in respect of the Board’s public dividend capital except any liability of the Board under paragraph 5(3) or (3A) of Schedule 2 to the Industry Act 1975 (c. 68) which accrued before the appointed day) become by virtue of section 1 of the Act property, rights and liabilities of a company nominated for the purposes of the section by the Secretary of State.

This Order nominates for those purposes British Technology Group PLC.