LegalizeThe Electricity (Scottish Electricity Companies) (Target Investment Limits) Order 1991
Made: 11th November 1991
Laid before Parliament: 21st November 1991
Coming into force: 12th December 1991
Now, therefore, the Secretary of State in exercise of the powers conferred by section 74(1) of the electricity Act 1989, and of all other powers enabling him in that behalf, and with the consent of the Treasury, hereby makes the following Order:
Citation and commencement
1
This Order may be cited as the Electricity (Scottish Electricity Companies) (Target Investment Limits) Order 1991 and shall come into force on 12th December 1991.
Target Investment Limits
2
The target investment limit in relation to the Government shareholding (as defined in section 74(1) of the Electricity Act 1989) in each company whose name is listed in column 1 of the Schedule to this Order shall be the percentage against the name of that company in column 3 of that Schedule of the voting rights which are exercisable in all circumstances at general meetings of the company.
SCHEDULE
| (1) | (2) | (3) |
|---|---|---|
| Name of company | Present Government shareholding | Target investment limit |
| Scottish Hydro-Electric plc | 3.44 per cent. | 3.69 per cent. |
| Scottish Power plc | 3.60 per cent. | 3.85 per cent. |
Signed
Ian Lang — One of Her Majesty’s Principal Secretaries of State — 1st November 1991
Irvine Patnick — Nicholas Baker — Two of the Lords Commissioners of Her Majesty’s Treasury — 11th November 1991
Explanatory note
(This note is not part of the Order)
This Order fixes target investment limits for the Government shareholding in the privatised Scottish electricity companies (as those terms are used in Part II of the Electricity Act 1989). The limits are expressed as a proportion of the voting rights exercisable in all circumstances at general meetings of the companies. The Government shareholding must normally be kept within these limits.
Footnotes
[^f00001]: See section 74(10) of the Electricity Act 1989, and the Electricity Act 1989 (Nominated Companies) (Scotland) Order 1989 (S.I. 1989/2448).
[^f00002]: 1989 c. 29.
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