Telecommunications Act 1984
(b)
c. 12
in a case within subsection (1)(b) above, to the making
of the order.
65
PART V
69.-(1) British Telecommunications shall continue in exist- Dissolution of
ence after the transfer date until it is dissolved in accordance British
with subsection (2) below ; and the period of its continued exist- munications.
ence after the transfer date is in this Act referred to as " the
transitional period ".
Telecom-
(2) The Secretary of State may by order, after consulting
British Telecommunications and the successor company, dissolve
British Telecommunications on a day specified in the order, as
soon as he is satisfied that nothing further remains to be done by
British Telecommunications under Schedule 5 to this Act.
(3) During the transitional period section 1(4) of the 1981
Act (composition of British Telecommunications) shall have
effect as if for the word " six " there were substituted the word
" one " and paragraph 9 of Schedule 1 to that Act (quorum of
British Telecommunications) shall have effect as if after the word
" three " there were inserted the words " or the number of its
members, whichever is the less ".
Miscellaneous and supplemental
70.-(1) This section applies where the Secretary of State or Application of
a nominee of his offers for sale to the public shares or debentures law in relation
of the successor company at a time when that company is wholly shoffer of
owned by the Crown ; and in this section full prospectus debentures of
means a prospectus which complies, or is deemed to comply, the successor
with the requirements of Schedule 4 to the Companies Act 1948 company.
(matters to be specified in prospectus and reports to be set out 1948
therein).
(2) If the shares or debentures are offered by a full prospectus
as respects which the conditions mentioned in subsection (3)
below are fulfilled (in this section referred to as " the offer
prospectus "), any form of application for the shares or debentures may (instead of being issued with a full prospectus) be
issued with a notice given by the Secretary of State which
includes-
or debentures offered,
the terms of the offer, the successor company's business
and its financial position ;
(b) an indication of the places in the United Kingdom
where copies of the offer prospectus are to be available
for inspection by members of the public ; and
(c) a statement of the effect of subsections (4) and (5) below.
(a) a brief description of the shares
C4
c. 38.