Telecommunications Act 1984
c. 12
58
PART
V
(2) In this Act " the excepted liabilities " means the liabilities
which subsist by virtue of a deed of covenant dated 22nd November 1978 and made between the Post Office and the then
trustees of the Post Office Staff Superannuation Scheme.
1948 c. 38.
(3) The Secretary of State may, after consulting British Telecommunications, by order nominate for the purposes of this
section any company formed and registered under the Companies Act 1948 ; but on the transfer date the company in question must be a company limited by shares which is wholly owned
by the Crown.
(4) References in this Act to property, rights and liabilities
of British Telecommunications are references to all such property,
rights and liabilities, whether or not capable of being transferred
or assigned by British Telecommunications.
It is hereby declared for the avoidance of doubt that-
(5)
in this Act to property of British Telecommunications is a reference to property of British Telecommunications whether situated in the United Kingdom or elsewhere ; and
(b) any such reference to rights or liabilities of British Telecommunications is a reference to rights to which British
Telecommunications is entitled, or (as the case may be)
liabilities to which British Telecommunications is subject, whether under the law of the United Kingdom or
of any part of the United Kingdom or under the law
of any country or territory outside the United Kingdom.
(a) any reference
1975 c. 24.
In the House of Commons Disqualification Act 1975 in
of Schedule 1 (other disqualifying offices) there shall
be inserted (at the appropriate place in alphabetical order) the
following entry" Director of the successor company within the meaning
of Part V of the Telecommunications Act 1984, being a
director nominated or appointed by a Minister of the Crown
or by a person acting on behalf of the Crown " ;
and the like insertion shall be made in Part III of Schedule
to the Northern Ireland Assembly Disqualification Act 1975.
(6)
Part
III
1
1975 c. 25.
Initial
Government
holding
in the
successor
company.
61-0) As a consequence of the vesting in the successor
company by virtue of section 60 above of property, rights and
liabilities of British Telecommunications, the successor company shall issue such securities of the company as the Secretary of
State may from time to time direct(a) to the Secretary of State ; or
(b) to any person entitled to require the issue of the securities
following their initial allotment to the Secretary of
State.