51 Crown shareholding
Transport Act 2000 (2000 c 38) | Legislation

51  Crown shareholding

(1)     This section applies if any property, rights or liabilities are transferred under a transfer scheme to a transferee which at the time of the transfer is—

(a)     a company which is wholly owned by the Crown,

(b)     a company which is wholly owned by the CAA, or

(c)     a company which is a wholly owned subsidiary of a company falling within paragraph (a) or (b).

(2)     The Secretary of State may by order designate such a transferee for the purposes of this section.

(3)     The Secretary of State must ensure that the Crown does not dispose of any of the shares it holds in the designated company unless he is satisfied that a scheme is in place

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