LegalizeThe Railtrack Group PLC (Target Investment Limit) Order 1996
Made: 8th October 1996
Laid before Parliament: 14th October 1996
Coming into force: 4th November 1996
Now, therefore, the Secretary of State, in exercise of the powers conferred by section 101(1) of the Railways Act 1993, and with the consent of the Treasury[^f00002], hereby makes the following Order:-
1
This Order may be cited as the Railtrack Group PLC (Target Investment Limit) Order 1996 and shall come into force on 4th November 1996.
2
The target investment limit for the Government shareholding in Railtrack Group PLC shall be 1.25 per cent. of the voting rights which are exercisable in all circumstances at general meetings of the company.
Signed
George Young — Secretary of State for Transport — 2nd October 1996
We consent,
Roger Knapman — Bowen Wells — Two of the Lords Commissioners of Her Majesty’s Treasury — 8th October 1996
Explanatory note
(This note is not part of the Order)
This Order fixes for the first time the target investment limit for the Government’s shareholding in Railtrack Group PLC (“Railtrack”). The limit is expressed as a proportion of the voting rights which are exercisable in all circumstances at general meetings of Railtrack.
Footnotes
[^f00001]: 1993 c. 43.
[^f00002]: See section 101(9).
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