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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order sets a new target investment limit for the Government shareholding in British Telecommunications plc at 22.209 per cent. of the voting rights exercisable in all circumstances at general meetings of the company. The new limit is 0.25 per cent. above the level of the Government shareholding in the company at the date the Order was made. The Order also revokes the Telecommunications Act 1984 (Government Shareholding) Order 1985, which set the first target investment limit at 49.803 per cent. of such voting rights.