The National Freight Corporation (Transfer of Undertaking) Order 1980
S.I. 1980/1380 · Made 11 September 1980
TRANSPORT
Made 11th September 1980
The Minister of Transport hereby makes this Order in exercise of powers conferred on him by section 45 of the Transport Act 1980:—
Contents
1Citation
This Order may be cited as the National Freight Corporation (Transfer of Undertaking) Order 1980.
2Nomination of successor company
The Minister nominates for the purpose of the said section as the successor company the National Freight Company Limited being the company formed for the purposes of the said section and registered under the Companies Act 1948.
3Appointed day
The Minister, with the consent of the Treasury, appoints 1st October 1980 as the appointed day for the purposes of the said section.
Signature
Norman Fowler
Minister of Transport
8th September 1980
We consent to the making of this Order,
Carol Mather
John MacGregor
Two of the Lords Commissioners of Her Majesty's Treasury
11th September 1980
Explanatory note
By this Order the Minister of Transport nominates the National Freight Company Limited and appoints 1st October 1980 as the appointed day, for the purposes of section 45 of the Transport Act 1980. The effect of the Order is that on the 1st October 1980—
(i) the whole of the undertaking of the National Freight Corporation will be transferred to the National Freight Company Limited,
(ii) the outstanding commencing capital debt of the Corporation and outstanding loans to the Corporation from the Minister will be extinguished,
(iii) the National Freight Corporation will cease to exist, and,
(iv) the repeal of the enactments specified in Part III of Schedule 9 to the Transport Act 1980 will take effect.
The National Freight Company is a company limited by shares and all the issued shares of the company are held by nominees for the Minister.