Section 50 Interpretation of Chapter 2 of Part 1I1

United Kingdom

(1)

In this Chapter —

“nuclear company” means a body corporate with control of a designated installation, designated site or designated facility;
“publicly controlled” is to be construed in accordance with subsection (3).

(2)

Expressions used in this Chapter and in Chapter 1 of this Part have the same meanings in this Chapter as in that Chapter.

(3)

For the purposes of this Chapter a body corporate is a publicly controlled company if it is a company limited by shares that is either publicly owned or is otherwise a company in which—

(a)

a person specified in subsection (4) holds a majority of the voting rights; or

(b)

two or more persons so specified, taken together, hold a majority of the voting rights.

(4)

The persons mentioned in subsection (3) are—

(a)

the Treasury;

(b)

a Minister of the Crown;

(c)

the NDA;

(d)

the UKAEA;

(e)

a publicly owned company; or

(f)

a nominee of a person falling within paragraphs (a) to (e).

(5)

In this section “company” F1means a company as defined in section 1(1) of the Companies Act 2006.

Annotations

Textual amendments

F1: Words in s. 50(5) 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. 220(3) (with art. 10)

Commencement

I1: S. 50 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1