# Scottish Development Agency Act 1975, Section 25: Interpretation.

Extent: N.I.

(1) In this Act, unless the context otherwise requires—
“ financial year ” means the period beginning with the commencement of this Act and ending with 31st March 1976, and each subsequent period of twelve months ending with 31st March;
“ industry ” includes any description of commercial activity, and any section of an industry, and “ industrial ” shall be construed accordingly;
“ land ” includes—
(a)the foreshore and other land covered with water;
(b)any interest in, or right over, land; and
(c)any other heritable property;
“ local authority ” means a regional, islands or district council;
“ sea bed ” includes its subsoil;
“ subsidiary ” means a subsidiary as defined by section 736 of the Companies Act 1985 ;
“ wholly owned subsidiary ” has the meaning assigned to it by section 736(5)( b ) of the Companies Act 1985 .
(2) Securities and other property are publicly owned for the purposes of this Act if they are held—
(a) by or on behalf of the Crown;
(b) by a company all of whose shares are held by or on behalf of the Crown or by a wholly owned subsidiary of such a company;
(c) by any corporation constituted by or under any enactment under which an industry or part of an industry is carried on by that corporation under national ownership or control; or
(d) by a wholly owned subsidiary of any such corporation.
(3) Except where the context otherwise requires, this Act shall apply in relation to any estate or interest in or right over the sea bed as it applies in relation to land, and the Acquisition of Land (Authorisation Procedure) (Scotland) Act 1947 and the compulsory purchase enactments specified in subsection (4) below shall apply accordingly.
(4) In subsection (3) above, “ the compulsory purchase enactments ” means the Lands Clauses Acts, and section 6 and sections 70 to 78 of the Railways Clauses Consolidation (Scotland) Act 1845, the Land Compensation (Scotland) Act 1963, section 278 of the Town and Country Planning (Scotland) Act 1972 and Schedule 24 to that Act, and the Land Compensation (Scotland) Act 1973.
(5) Except in so far as the context otherwise requires, any reference in this Act to an enactment shall be construed as a reference to that enactment as amended, applied or extended by or under any other enactment, including this Act.

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Source: https://www.legislation.gov.uk/ukpga/1975/69/section/25 (the official version)
Page: https://openlegislation.uk/scottish-development-agency-act-1975/section-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.