Iron and Steel Act 1982

• (a) section 69 of the Companies Act 1948 shall apply with the modification that, for any reference to an order of the court confirming the reduction of the share capital of a company, there shall be substituted a reference to a copy of the resolution of the company for reducing its share capital, and, for the reference to a minute approved by the court showing the particulars mentioned in that section, there shall be substituted a reference to a minute showing those particulars to the satisfaction of the registrar of companies ;

• (b) section 69(3) and (4) of the Companies Act 1948 shall not apply, but notice of the registration of the resolution by the registrar of companies shall be published in the London and Edinburgh Gazettes and the registrar shall certify under his hand the registration of the resolution, and his certificate shall be conclusive evidence that the share capital of the company is such as is stated in the resolution ; and

• (c) sections 67, 68, 70 and 71 of the Companies Act 1948 shall not apply.

Number of members

9

No petition shall be presented for the winding up of a relevant company on the ground that the number of its members is less than the number required by law, nor shall any person be liable on that ground as a member of the company for the payment of any of its debts.

10

In this Schedule " special resolution ", " extraordinary resolution " and " special notice " have the same meanings as in the Companies Act 1948.

SCHEDULE 5

1

The quarrying or mining of iron ore or the treatment or preparation of iron ore for smelting.

2

The smelting of iron ore in a blast furnace with or without other metalliferous materials, or the production of iron by any other process.

3

The production of steel by any process.

4

The casting of iron or steel by any process.

5

The rolling, with or without heat, of any iron and steel products for the purpose of reducing the cross-sectional area thereof.

6

The production, with or without heat, of iron or steel forgings, but not including—

• (a) smiths' hand forging ;

• (b) the production of bolts, nuts, screws, rivets or springs ;

• (c) drop forging or any other stamping or pressing involving the use either of a die conforming to the shape of the final product of the stamping or pressing, or of a series of dies one of which so conforms ;

• (d) the hammering or pressing of any part or component of plant or machinery carried out incidentally to, and by the persons engaged in, the manufacture or repair of the plant or machinery in which the part or component is to be incorporated.

7

The production from iron or steel of bright bars or of hot-finished tubes or of hot-finished pipes.

8

The production of tinplate or terneplate.

SCHEDULE 6

Periods running at commencement

1

Where any period of time specified in any provision repealed by this Act is current at the commencement of this Act, this Act shall have effect as if the corresponding provision of this Act had been in force when the period began to run.

The Mineral Workings Act 1951

2

In subsection (1) of section 15 of the Mineral Workings Act 1951, for the words " the Iron and Steel Act 1975 " there shall be substituted the words " the Iron and Steel Act 1982 " ; and nothing in this Act shall affect the continuance in force of that subsection with the reference in paragraph (a) thereof to the Corporation.

The Building Control Act 1966

3

The Building Control Act 1966 shall continue to have effect as if the Corporation and any publicly-owned companies were included amongst the bodies mentioned in the Schedule to that Act.

Fair trading

4

The repeal by this Act of paragraph 8 of Schedule 6 to the Iron and Steel Act 1975 shall not affect the application of the Restrictive Trade Practices Act 1976 in relation to any agreement which has not been registered in accordance with the provisions of that paragraph ; and the period within which particulars of the variation or determination of any agreement to which that paragraph applied are to be furnished in accordance with section 24(2) of the said Act of 1976 to the Director General of Fair Trading shall be the period of three months beginning with the date of the variation or determination.

The Tribunals and Inquiries Act 1971

5

In Part I of Schedule 1 to the Tribunals and Inquiries Act 1971, for the entry relating to Iron and Steel there shall be substituted the following entry—

Investment grants

6

• (1) Where in pursuance of an order under section 12(1) of this Act or of arrangements approved for the purposes of this paragraph any asset of a company which was in public ownership on the 30th April 1969 vests in the Corporation, the Secretary of State or, as the case may be, the Department of Commerce for Northern Ireland may make a grant to the Corporation of the same amount as any grant which the Secretary of State or that Department might have made to the company in respect of that asset under section 1, 2 or 6 of the Industrial Development Act 1966 or section 1, 2, 5 or 7 of the Industrial Investment (General Assistance) Act (Northern Ireland) 1966 if—

• (a) the asset had not vested in the Corporation ; and

• (b) in a case in which capital expenditure has been incurred, or is incurred, by the Corporation with reference to the asset, that expenditure had been incurred by the company.

• (2) Where immediately before the commencement of this Act the Secretary of State or the said Department had power to make a grant to the Corporation under paragraph 9 or 10 of Schedule 6 to the Iron and Steel Act 1975 (investment grants) the Secretary of State or, as the case may be, that Department may make that grant after the commencement of this Act notwithstanding the repeal of those paragraphs.

• (3) Section 8 of the Industrial Development Act 1966 and section 10 of the Industrial Investment (General Assistance) Act (Northern Ireland) 1966 (conditions) shall apply in relation to grants under sub-paragraph (1) or (2) above, and grants made before the commencement of this Act by virtue of the said paragraph 9 or 10, as they apply in relation to the corresponding grants under those Acts.

Functions transferred to the Corporation

7

The repeal by this Act of Schedule 6 to the Iron and Steel Act 1975 shall not affect—

• (a) the continuance in force, or the effect of, any regulations made under section 24 of the Iron and Steel Act 1953 ;

• (b) the power to amend or revoke such regulations ;

• (c) anything which immediately before the commencement of this Act has effect or is continuing subject to, or to modifications in consequence of, the substitution of the Corporation for any other person or body.

Compensation regulations

8

The repeal by this Act of subsection (6) of section 2 of the Iron and Steel Act 1981 shall not affect the continuance in force after the commencement of this Act of any regulations under paragraph 2 of Schedule 4 to the Iron and Steel Act 1975 (duty to make regulations providing compensation to employees of certain nationalised companies or of the Iron and Steel Board) which were in force by virtue of that subsection immediately before the commencement of this Act.

SCHEDULE 7