Section 14 Interpretation.

(1)

In this section “the ordnance provisions” means sections 1 to 13 (including the Schedules) and this section.

(2)

References in the ordnance provisions to property, rights and liabilities of Her Majesty or any Minister of the Crown are to all such property, rights and liabilities, whether or not capable of being transferred or assigned by Her Majesty or the Minister (as the case may be).

(3)

It is hereby declared that a reference in the ordnance provisions to property, rights or liabilities to which Her Majesty or any Minister of the Crown is at any time entitled or subject is a reference—

(a)

to property whether situated in the United Kingdom or elsewhere;

(b)

to rights or liabilities to which Her Majesty or the Minister (as the case may be) is then entitled or subject under the law of the United Kingdom or of any part of the United Kingdom or under the law of any country or territory outside the United Kingdom.

(4)

A company shall be regarded for the purposes of the ordnance provisions as wholly owned by the Crown at any time when all the issued shares in the company are held by or on behalf of the Crown.

(5)

In the ordnance provisions—

“company” means a company formed and registered under F1the Companies Act 2006;
“debenture” includes debenture stock;
“scheme” means a scheme made under section 1(1);
“securities”, in relation to a company, includes shares, debentures, bonds and other securities of the company, whether or not constituting a charge on the assets of the company;
“shares” includes stock;
F2 “ subsidiary ” and “ wholly owned subsidiary ” have the meanings given by F3section 1159 of the Companies Act 2006.

Annotations

Textual amendments

F1: Words in s. 14(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. 56(a) (with art. 10)
F2: Definitions substituted by Companies Act 1989 (c. 40, SIF 27), ss. 144(4), 213(2), Sch. 18 para. 31 (subject to the transitional provisions referred to in S.I. 1990/1392, arts. 2(d), 6)
F3: Words in s. 14(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. 56(b) (with art. 10)