Paragraph 153 British Steel Act 1988 (c.35)

(1)

Section 7 of the British Steel Act 1988 (financial structure of the successor company) is amended as follows.

(2)

In subsection (2)—

(a)

in paragraph (b), for “section 263(1) of the Companies Act 1985” substitute “ section 830 of the Companies Act 2006 ”, and

(b)

in the closing words, for “Part VIII of that Act (distribution of profits and assets)” substitute “ Part 23 of that Act (distributions) ”.

(3)

In subsection (4)—

(a)

for “section 264(3)(d) of the Companies Act 1985” substitute “ section 831(4)(d) of the Companies Act 2006 ”,

(b)

for “section 264” substitute “ section 831 ”, and

(c)

for “section 264(3)(c)” substitute “ section 831(4)(c) ”.

(4)

In subsection (7), for “Part VIII of the Companies Act 1985” substitute “ Part 23 of the Companies Act 2006 ”.

(5)

In subsection (8), for “the Companies Act 1985” substitute “ the Companies Act 2006 ”.