Aircraft and Shipbuilding Industries Act 1977 (repealed) (repealed) (repealed)

Contents

Part I · The Corporations

Constitution and functions

1British Aerospace and British Shipbuilders.#

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3Powers of the Corporations.#

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4Corporations to give effect to directions of Secretary of State.#

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4AOrganisation of British Shipbuilders’ activities.#

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4BDiscontinuance and restriction of British Shipbuilders activities.#

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6Machinery for settling terms and conditions of employment et ceteralaetc.#

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7Formulation of the Corporations’ policies and plans and conduct of their operations.#

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8Furnishing and publication of information by the Corporations.#

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9Control by Corporations of wholly owned subsidiaries.#

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Financial provisions

10Financial duties of the Corporations.#

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11Borrowing powers of the Corporations and their wholly owned subsidiaries.#

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12Loans by the Secretary of State to the Corporations.#

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13Treasury guarantees.#

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14Transfer to Corporations of rights and obligations with respect to certain government loans.#

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15The commencing capital of each Corporation.#

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16Public dividend capital and public dividends.#

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17Accounts and audit.#

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18Annual report.#

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Part II · Vesting of Securities and other Assets in the Corporations and acquired Companies

Compensation

35Compensation for vesting of securities.#

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36Payment of compensation.#

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37Base value of securities of a listed class.#

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38Base value of other securities.#

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39The appropriate deduction.#

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40General provisions as to compensation stock.#

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41Stockholders’ representatives.#

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Acquisition of securities and assets

19Vesting in British Aerospace or British Shipbuilders of securities of Scheduled companies.#

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20Vesting in acquired company of certain assets of privately-owned companies in same group.#

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21Certain loans from associated persons to be treated as securities.#

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22Determination of rights to require the issue of securities or to nominate directors.#

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Payments of dividend and interest

23Control of dividends and interest.#

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24Permitted dividends and interest.#

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25Final payments of dividend and interest.#

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Safeguarding of assets, avoidance of certain transactions, et ceteralaetc.

26Power to acquire securities of certain additional companies.#

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27Removal of company from companies to be acquired.#

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28Prohibition of transfer of certain works.#

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29Recovery of assets transferred away.#

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30Dissipation of assets by transactions involving holders of securities et ceteralaetc.#

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31Onerous transactions: disclaimer and recovery of losses.#

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32Provisions supplementary to section 31.#

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33Supplementary provisions relating to dissipation of assets.#

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34Approvals and undertakings given before passing of Act.#

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Part III · Miscellaneous and General

General

54Service of notices.#

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55Administrative expenses.#

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56Interpretation.#

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57Short title and extent.#

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Information

51Furnishing of information to the Secretary of State.#

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52Restriction on disclosure of information.#

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Arbitration and the Arbitration Tribunal

42The arbitration tribunal.#

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43Scottish proceedings.#

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44Staff and expenses of arbitration tribunal.#

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Liabilities, et ceteralaetc.

53Liabilities of Corporations et ceteralaetc.#

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Pensions et ceteralaetc.

49Provisions as to pension rights.#

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50Compensation for loss of employment, emoluments or pension rights.#

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The Corporations

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47Right of persons to object to practices of British Shipbuilders or their wholly owned subsidiaries.#

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48Duty of the Corporations to consult et ceteralaetc. with Northern Ireland state-controlled bodies.#

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Schedule 1 · Aircraft Industry

Part I · Companies whose Securities are to Vest in British Aerospace

Part II · Qualifying Conditions

(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

Schedule 2 · Shipbuilding Industry

Part I · Companies whose Securities are to Vest in British Shipbuilders

Shipbuilding companies

Companies manufacturing slow speed diesel marine engines

Training companies

Part II · Qualifying Conditions

(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

Schedule 3 · Vesting of Assets of Undertakings in Acquired Companies

(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

Schedule 4 · Acquisition of Certain Assets

(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (repealed)

Schedule 5 · Satisfaction of Compensation by Issue of Compensation Stock