Section 12 Supplemental share transfer regulationsI1

United Kingdom

(1)

This section applies where the Secretary of State has made share transfer regulations under section 4 in respect of securities issued by a steel undertaking (“the original regulations”).

(2)

The Secretary of State may make supplemental share transfer regulations.

(3)

Supplemental share transfer regulations are share transfer regulations which—

(a)

provide for the transfer of securities which were issued by the steel undertaking before the original regulations and have not been transferred by the original regulations or other supplemental share transfer regulations;

(b)

make provision of a kind that share transfer regulations may make under section 4 (2), whether in connection with a transfer under the original regulations or in connection with a transfer under those or other supplemental regulations.

(4)

Supplemental share transfer regulations are to be treated in the same way as any other share transfer regulations for all other purposes, including for the purposes of the application of a power under this Part.

(5)

The possibility of making supplemental share transfer regulations in reliance on subsection (2) is without prejudice to the possibility of making new regulations under section 4 (1) (instead of regulations under subsection (2)).

Annotations

Commencement

I1: S. 12 in force at Royal Assent, see s. 63(1)