# The Enterprise Act 2016 (Commencement No. 5) Regulations 2017

S.I. 2017/842 · made 17 August 2017

These are the fifth commencement regulations made under the Enterprise Act 2016 (c.12). Certain provisions came into force on the passing of the Act.

Made under: Enterprise Act 2016 (Section 44)

PDFs: Printed copy https://openlegislation.uk/enterprise-act-2016-commencement-no-5-regulations-2017/pdf/uksi_20170842_en.pdf

## Introductory text

Enterprise
Made 17th August 2017
These Regulations are made in exercise of the powers conferred by section 44(5) of the Enterprise Act 2016.
In accordance with section 38(1) of the Enterprise Act 2016, the Secretary of State has—
(a) decided to make a disposal of shares held by the Crown in a UK Green Investment Bank company, and
(b) laid before Parliament a report on the proposed disposal which states—
(i) the kind of disposal intended,
(ii) the expected time-scale for disposal,
(iii) the Secretary of State’s objectives for the disposal.
Accordingly, the Secretary of State makes the following Regulations:

## 1 Citation and interpretation

These Regulations may be cited as the Enterprise Act 2016 (Commencement No. 5) Regulations 2017.

## 2 Provision coming into force on the day after the day on which these Regulations are made

Section 37 of the Enterprise Act 2016 (Disposal of Crown’s shares in UK Green Investment Bank company) comes into force on the day after the day on which these Regulations are made.

## Signature

Joseph Johnson
Minister of State for Universities, Science, Research and Innovation
Department for Business, Energy and Industrial Strategy
17th August 2017

## Explanatory note

(This note is not part of the Regulations)
These are the fifth commencement regulations made under the Enterprise Act 2016 (c.12). Certain provisions came into force on the passing of the Act.
Regulation 2 commences section 37 of the Enterprise Act 2016 on the day after the day on which these Regulations are made. Section 37 amends Part 1 of the Enterprise and Regulatory Reform Act 2013. In particular, section 37 removes elements of Government control over the corporate policy of the UK Green Investment Bank (“GIB”). The purpose of the amendments is to enable the GIB to be reclassified to the private sector following a disposal of the Crown’s shares in the GIB.
In accordance with section 38(1) of the Enterprise Act 2016, on 3rd March 2016 the Secretary of State laid before Parliament a report on the proposed disposal which states: the kind of disposal intended, the expected time-scale for the disposal, and the Secretary of State’s objectives for the disposal.
A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

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Source: https://www.legislation.gov.uk/uksi/2017/842 (the official version)
Page: https://openlegislation.uk/enterprise-act-2016-commencement-no-5-regulations-2017
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.