Explanatory note

This Order authorises the Manchester Ship Canal Company and theCouncil of the City of Manchester to agree that certain mortgagedebentures issued by the Company to the Council are to be redeemed andthat on the date of redemption the Council is to cease to be entitled toappoint directors of the Company. The Order would also alter the minimumnumber of directors and their quorum. The Order also confers furtherborrowing powers on the Company, provides that any provision in theCompany’s enactments requiring the Council’s or the shareholders'consent to the exercise of such powers is to cease to have effect andenables the Company to give guarantees.

The applicant for the Order is the Manchester Ship Canal Company,Dock Office, Trafford Road, Manchester, M5 2XB.