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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Coal Industry (Coal Mining Successor Companies Target Investment Limit) Order 1995 No. 1477 URL: http://www.bailii.org/uk/legis/num_reg/1995/uksi_19951477_en.html |
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Statutory Instruments
COAL INDUSTRY
Made
6th June 1995
Laid before Parliament
8th June 1995
Coming into force
23rd June 1995
Whereas each company, the name of which is listed in the first column of the Schedule to this Order, is a successor company(1) for the purposes of the Coal Industry Act 1994(2);
And whereas each company which is so listed ceased to be wholly owned by the Crown on the date shown opposite its name in the second column of the Schedule to this Order;
And whereas there is no Government shareholding(3) in any company which is so listed at the time when this Order is made;
And whereas no previous order has been made fixing a target investment limit in relation to the Government shareholding in any company which is so listed;
Now, therefore, the Secretary of State, in exercise of the powers conferred upon him by section 16(2) of the Coal Industry Act 1994, and of all other powers enabling him in that behalf, and with the consent of the Treasury, hereby makes the following Order:-
1. This Order may be cited as the Coal Industry (Coal Mining Successor Companies Target Investment Limit) Order 1995 and shall come into force on 23rd June 1995.
2. The target investment limit in relation to the Government shareholding in each of the companies, the name of which is listed in the first column of the Schedule to this Order, shall be one half of one per cent. of the voting rights which are exercisable in all circumstances at general meetings of the company in question.
Richard Page,
Parliamentary Under-Secretary for Industry and Energy,
Department of Trade and Industry.
1st June 1995
We consent,
Timothy Kirkhope,
Timothy Wood,
Two of the Lords Commissioners of Her Majesty's Treasury.
6th June 1995
| (1) | |
|---|---|
| Name of Company | |
| (2) | |
| Date on which Company ceased to be wholly owned by the Crown | |
| Tower Colliery Limited | 23rd December 1994 |
| (4) RJB Mining (UK) Ltd | 30th December 1994 |
| The Scottish Coal Company Limited | 30th December 1994 |
| (5) Celtic Energy Limited | 31st December 1994 |
| Annesley Bentinck Colliery Limited | 25th April 1995 |
(This note is not part of the Order)
This Order fixes target investment limits for the Government shareholding in the listed successor companies which, at a time when they were wholly owned by the Crown, became entitled or subject, in accordance with restructuring schemes to certain property, rights and liabilities. Those successor companies acquired the former coal mining interests of the British Coal Corporation and are now no longer owned by the Crown. The Government shareholding must normally be kept below the limit specified.
See section 65(1) of the Coal Industry Act 1994.
See section 16(2) of the Coal Industry Act 1994.
This company was originally called "Central and Northern Mining Limited". The name of the company was changed on 30th December 1994.
This company was originally called "South Wales Regional Coal Company Limited". The name of the company was changed on 3rd January 1995.
