Source: http://www.legislation.gov.uk/ukpga/1990/42/part/IV/crossheading/provisions-relating-to-nominated-company
Timestamp: 2016-05-06 13:40:44
Document Index: 752363939

Matched Legal Cases: ['art. 4', 'art. 2', 'art. 4', 'art. 3', 'art. 4', 'art. 4', 'art. 5', 'art. 3', 'art. 11', 'art. 4', 'art. 2', 'art. 2', 'art. 3', 'art. 3', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 3', 'art. 2']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsCymraegHomeAbout UsBrowse LegislationNew LegislationChanges To LegislationSearch LegislationSearch LegislationTitle: (or keywords in the title)Year:Number:Type:All Legislation (excluding draft)All Primary Legislation UK Public General Acts UK Local Acts Acts of the Scottish Parliament Acts of the National Assembly for Wales Measures of the National Assembly for Wales Church Measures Acts of the Northern Ireland Assembly Acts of the Old Scottish Parliament Acts of the English Parliament Acts of the Old Irish Parliament Acts of the Parliament of Great Britain Northern Ireland Orders in Council Measures of the Northern Ireland Assembly Acts of the Northern Ireland ParliamentAll Secondary Legislation UK Statutory Instruments Wales Statutory Instruments Scottish Statutory Instruments Northern Ireland Statutory Rules Church Instruments UK Ministerial Orders UK Statutory Rules and OrdersAll Draft Legislation UK Draft Statutory Instruments Scottish Draft Statutory Instruments Northern Ireland Draft Statutory RulesAll Impact Assessments UK Impact AssessmentsSearchAdvanced SearchBroadcasting Act 1990You are here:1990 c. 42Part IV Provisions relating to nominated companyTable of ContentsContentMore ResourcesPrevious: CrossheadingNext: CrossheadingPlain ViewPrint OptionsWhat VersionLatest available (Revised)Original (As enacted)Advanced FeaturesShow Geographical Extent(e.g. England, Wales, Scotland, Northern Ireland)Show Timeline of ChangesOpening OptionsOpen whole ActOpen Act without schedulesOpen Schedules onlyMore ResourcesOriginal Print PDFView moreChanges to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Broadcasting Act 1990. 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Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.Changes and effects yet to be applied to :Changes and effectsThis section lists the changes and effects yet to be applied to the specific provision you are viewing.specified provision(s) amendment to earlier commencing SI 2003/3142 art. 4 Sch. 2 by S.I. 2004/545 art. 2Changes and effects yet to be applied to the whole Act associated Parts and Chapters:Changes and effectsThis section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.Act amendment to earlier affecting provision SI 2004/1944 art. 4 Sch. by S.I. 2015/1000 art. 3-8Act applied (with modifications) by S.I. 2004/1944 art. 4 Sch.Act applied (with modifications) by S.I. 2012/2690 art. 4 5 Sch.Act modified (Guernsey) by S.I. 2013/243 art. 5 6 Sch. Pt. 1Act power to modify conferred by 2003 c. 21 s. 407Blanket amendment words substituted by S.I. 2011/1043 art. 3 6Whole provisions yet to be inserted into this Act (including any effects on those provisions):s. 3(8)(a) words substituted by 2006 c. 36 Sch. 7 para. 10s. 5(1)(b)(c) substituted for s. 5(1)(b) by 2003 c. 21 s. 350(2)s. 5(2)(da)(db) inserted by 2003 c. 21 Sch. 15 para. 3(3)s. 5(6AA)-(6AD) inserted by S.I. 2011/1503 art. 11(3)s. 13(1A) inserted by 2003 c. 21 Sch. 15 para. 5(3)s. 15(3)(c)-(e) repealed by 2003 c. 21 Sch. 15 para. 7(4)(b) Sch. 19(1)s. 15(3A) inserted by 2003 c. 21 Sch. 15 para. 7(5)s. 18(3A)-(3D) substituted for s. 18(4) by 2003 c. 21 Sch. 13 para. 2(2)(3)s. 18(3B)(a) power to amend conferred by 2003 c. 21 Sch. 13 para. 9s. 18(3C)(a) power to amend conferred by 2003 c. 21 Sch. 13 para. 9s. 40(6) inserted by 2003 c. 21 s. 344(3)s. 41(1A)-(1C) substituted for s. 41(2) by 2003 c. 21 Sch. 13 para. 3(1)(2)s. 42B(3A)-(3C) substituted for s. 42B(4) by 2003 c. 21 Sch. 13 para. 4(3)(4)s. 42B(3A)(a) power to amend conferred by 2003 c. 21 Sch. 13 para. 9s. 48(2A) inserted by 2003 c. 21 Sch. 15 para. 20(4)s. 48(3)(a)-(aa) substituted for s. 48(3)(a)-(c) by 2003 c. 21 Sch. 15 para. 20(5)(c)s. 49(1A) substituted for s. 49(2)(3) by 2003 c. 21 Sch. 15 para. 21(4)s. 53(8A) inserted by 2003 c. 21 Sch. 15 para. 25(6)s. 53(12)(13) inserted by 2003 c. 21 Sch. 15 para. 25(7)s. 53(12) restricted by 2003 c. 21 Sch. 18 para. 50(1)para. 50(2)(a)(6)s. 55(1A)-(1C) substituted for s. 55(2) by 2003 c. 21 Sch. 13 para. 5s. 58(1)(1A) substituted for s. 58(1) by S.I. 2009/1968 art. 4(2)s. 58(6) inserted by 2003 c. 21 Sch. 15 para. 28(4)s. 60(4)(aa) inserted by S.I. 2010/831 reg. 10(1)s. 66(2A) inserted by 2003 c. 21 Sch. 15 para. 29(4)s. 85(8) inserted by 2003 c. 21 Sch. 15 para. 32(5)s. 86(9)(a) words substituted by 2006 c. 36 Sch. 7 para. 11s. 88(1)(b)(c) substituted for s. 88(1)(b) by 2003 c. 21 s. 350(2)s. 88(2)(da)(db) inserted by 2003 c. 21 Sch. 15 para. 35(3)s. 89(1)(a)(aa)(ab)(b) substituted by 2006 c. 36 Sch. 7 para. 12(2)s. 89(1)(a)-(ab) substituted for s. 89(1)(a) by 2003 c. 21 Sch. 15 para. 36(2)(4)s. 89(3)(b) words substituted by 2006 c. 36 Sch. 7 para. 12(3)s. 97(1A) inserted by 2003 c. 21 Sch. 15 para. 37(3)s. 98(1)(b)(iia) inserted by 2003 c. 21 s. 257(2)s. 98(3)(aa) inserted by 2003 c. 21 s. 257(3)s. 98(3A) inserted by 2003 c. 21 Sch. 15 para. 38(4)s. 100(1A)-(2C) substituted for s. 100(2) by 2003 c. 21 s. 257(5)s. 100A inserted by 2003 c. 21 s. 257(6)s. 101(3A)-(3D) substituted for s. 101(4) by 2003 c. 21 Sch. 13 para. 6(2)(3)s. 101(3B)(a) power to amend conferred by 2003 c. 21 Sch. 13 para. 9s. 101(3C)(a) power to amend conferred by 2003 c. 21 Sch. 13 para. 9s. 103A(7)(7A) substituted for s. 103A(7) by 2003 c. 21 Sch. 15 para. 44(7)s. 103A(10A) inserted by 2003 c. 21 Sch. 15 para. 44(8)s. 103A(12) inserted by 2003 c. 21 Sch. 15 para. 44(9)s. 103A(12) restricted by 2003 c. 21 Sch. 18 para. 50(1)para. 50(2)(b)(6)s. 103B(1) words inserted by S.I. 2015/2052 art. 2(b)s. 103B(1) words substituted by S.I. 2015/2052 art. 2(a)s. 104A(5)(c) inserted by 2003 c. 21 s. 254s. 104A(12A) inserted by 2003 c. 21 Sch. 15 para. 46(5)s. 104A(14) inserted by 2003 c. 21 Sch. 15 para. 46(7)s. 104A(14) restricted by 2003 c. 21 Sch. 18 para. 50(1)para. 50(2)(c)(6)s. 104B(1A) inserted by 2003 c. 21 Sch. 15 para. 47(3)s. 104AA(1) words inserted by S.I. 2015/2052 art. 3(a)(ii)s. 104AA(1) words substituted by S.I. 2015/2052 art. 3(a)(i)s. 104AA(2)(b) words inserted by S.I. 2015/2052 art. 3(b)s. 106(1A)(1B) inserted by 2003 c. 21 s. 312(3)s. 106(7) inserted by 2003 c. 21 s. 312(5)s. 106ZA inserted by 2003 c. 21 s. 313s. 109(6) inserted by 2003 c. 21 s. 344(3)s. 110(1A)-(1D) substituted for s. 110(2) by 2003 c. 21 Sch. 13 para. 7(1)(3)s. 110(1B)(a) power to amend conferred by 2003 c. 21 Sch. 13 para. 9s. 114(2A)(2B) inserted by 2003 c. 21 Sch. 15 para. 52(4)s. 114(6)(7) substituted for s. 114(6) by 2003 c. 21 Sch. 15 para. 52(6)s. 120(1A)-(1C) substituted for s. 120(2) by 2003 c. 21 Sch. 13 para. 8s. 126(1A) inserted by 2003 c. 21 s. 256(3)s. 183(3B)-(4B) substituted for s. 183(4) by 2003 c. 21 s. 208(3)s. 183A inserted by 2003 c. 21 s. 209s. 183A(4) words inserted by 2012 c. 11 s. 17(5)s. 183A(5)(c) words substituted by S.I. 2006/241 art. 2(2)s. 183A(6)(b) words inserted by 2012 c. 11 s. 17(6)s. 183A(9) words substituted by S.I. 2006/241 art. 2(3)s. 183A(10)(11) omitted by S.I. 2006/241 art. 2(4)s. 184(3A) inserted by 2003 c. 21 Sch. 15 para. 63(4)s. 193(2A) inserted by 2003 c. 21 Sch. 15 para. 65(3)s. 193(2A) words substituted by S.I. 2014/892 Sch. 1 para. 71(b)s. 201(1)(aa) substituted for s. 201(1)(a)-(bb) by 2003 c. 21 s. 360(1)(a)s. 201(2A)(2B) substituted for s. 201(2) by 2003 c. 21 s. 360(2)s. 202(6A) inserted by 2003 c. 21 Sch. 15 para. 68(3)Sch. 2 para. 2(1AA) inserted by S.I. 2008/948 Sch. 1 para. 176(3)Sch. 3 para. 3(2A)(2B) inserted by 2003 c. 21 s. 200Sch. 4 para. 8A(6A) inserted by S.I. 2003/1398 Sch. para. 14(3)Sch. 6 para. 13(3)(4) inserted by 2003 c. 21 s. 342(b)Sch. 12 para. 14(d) and word inserted by S.I. 2010/831 reg. 10(3)(b)Sch. 12 para. 14(b) word omitted by S.I. 2010/831 reg. 10(3)(a)Sch. 19 para. 2(1A) inserted by 2003 c. 21 s. 210(2)(b)Sch. 19 para. 7(4) inserted by 2003 c. 21 s. 210(3)Sch. 19 para. 8A inserted by 2003 c. 21 s. 210(4)Sch. 19 para. 12(1A) inserted by 2003 c. 21 s. 210(5)Commencement Orders yet to be applied to the Broadcasting Act 1990Commencement OrdersThis section lists the commencement orders yet to be applied to the whole Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.Commencement Orders bringing legislation that affects this Act into force:S.I. 2003/580 art. 2 commences (1998 c. 34)S.I. 2003/766 art. 2 Sch. commences (2002 c. 40)S.I. 2003/1397 art. 2(1) Sch. commences (2002 c. 40)S.I. 2003/1900 art. 2 Sch. 1 2 commences (2003 c. 21)S.I. 2003/2093 art. 2 Sch. 1 2 commences (2002 c. 40)S.I. 2003/3142 art. 2-4 Sch. 1 2 commences (2003 c. 21)S.I. 2005/3056 art. 2 3 commences (2003 c. 17)S.I. 2005/3175 art. 2 3 Sch. 1 2 commences (2004 c. 33)S.I. 2008/839 art. 2 commences (2007 c. 18)S.I. 2008/1586 art. 2(1) Sch. 1 commences (2008 c. 4)S.I. 2009/2858 art. 3 commences (1996 c. 31)S.I. 2011/1170 art. 2 commences (2010 c. 24) Provisions relating to nominated companyE+W+S+N.I.135 Initial Government holding in nominated company.E+W+S+N.I.(1)As a consequence of the vesting in the nominated company, in accordance with the scheme made under Schedule 9 to this Act, of property, rights and liabilities of the IBA, that company shall issue to the Secretary of State such securities of the company as he may from time to time direct.
(2)The Secretary of State shall not give a direction under subsection (1) at a time when the nominated company has ceased to be wholly owned by the Crown.
(3)Securities required to be issued in pursuance of this section shall be issued at such time or times, and (subject to subsection (4)) on such terms, as the Secretary of State may direct.
(4)Any shares issued in pursuance of this section—
(b)shall be issued as fully paid and treated for the purposes of the M1Companies Act 1985 as if they had been paid up by virtue of the payment to the nominated company of their nominal value in cash.
(5)The Secretary of State shall not exercise any power conferred on him by this section, or dispose of any securities issued to him in pursuance of this section, without the consent of the Treasury.
(6)Without prejudice to the generality of section 198(2), any dividends or other sums received by the Secretary of State in right of or on the disposal of any securities acquired by virtue of this section shall be paid into the Consolidated Fund.
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Marginal CitationsM11985 c. 6. 136 Exercise of functions through nominees.E+W+S+N.I.(1)The Secretary of State may, with the consent of the Treasury, appoint any person to act as his nominee, or one of his nominees, for the purposes of section 135; but any issue of securities to any such nominee in pursuance of that section shall be effected in accordance with such directions as may be given from time to time by the Secretary of State with the consent of the Treasury.
(2)Any person holding any securities as a nominee of the Secretary of State by virtue of subsection (1) shall hold and deal with them (or any of them) on such terms and in such manner as the Secretary of State may direct with the consent of the Treasury.
137 Target investment limit for Government shareholding in nominated company.E+W+S+N.I.(1)As soon as he considers it expedient, and in any case not later than six months after the nominated company ceases to be wholly owned by the Crown, the Secretary of State shall by order fix a target investment limit in relation to the aggregate of the shares for the time being held in the company, under or by virtue of any enactment, by any Minister of the Crown or any nominee of his (“the Government shareholding”).
138 Reserves of nominated company.E+W+S+N.I.(1)If the Secretary of State so directs at any time before the nominated company ceases to be wholly owned by the Crown, such sums as may be specified in the direction shall, instead of being applied in any other way, be carried by the company to a reserve (“the statutory reserve”).
(2)The statutory reserve may only be applied by the nominated company in paying up unissued shares of the company to be allotted to members of the company as fully paid bonus shares.
(3)Notwithstanding subsection (2), the statutory reserve shall not count as an undistributable reserve of the nominated company for the purposes of subsection (3)(d) of section 264 of the M2Companies Act 1985 (restriction on distribution of assets); but, for the purpose of determining under that section whether the nominated company may make a distribution at any time, any amount for the time being standing to the credit of the statutory reserve shall be treated for the purposes of subsection (3)(c) of that section as if it were unrealised profits of the company.
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Marginal CitationsM21985 c. 6. 139 Loans by Secretary of State to nominated company.E+W+S+N.I.(1)As from the transfer date the Secretary of State may, with the consent of the Treasury, make loans to the nominated company out of money provided by Parliament; but no loan shall be made by him under this section at a time when the company has ceased to be wholly owned by the Crown.
140 Temporary restriction on borrowings of nominated company.E+W+S+N.I.(1)The aggregate amount outstanding in respect of the principal of any relevant borrowing of the nominated company shall not, at any time when the company is wholly owned by the Crown, exceed such sum as the Secretary of State may determine with the consent of the Treasury.