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Statutory Instrument 1991 No. 1199

The Electricity (Supply, Transmission and Generating Companies) (Target Investment Limits) Order 1991

(The document as of February, 2008)

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STATUTORY INSTRUMENTS

1991 No. 1199

ELECTRICITY

The Electricity (Supply, Transmission and Generating Companies) (Target Investment Limits) Order 1991

Made16th May 1991
Laid before Parliament20th May 1991
Coming into force10th June 1991

    Wheras each company whose name is listed in column 1 of the Schedule to this Order is an operating company[1] for the purpose of Part II of the Electricity Act 1989[2];
    And whereas each such company, except National Power PLC and PowerGen plc, ceased to be wholly owned by the Crown on 11th December 1990, and National Power PLC and PowerGen plc ceased to be wholly owned by the Crown on 12th March 1991;
    And whereas the Government shareholding (as defined in section 74(1) of the said Act of 1989) in each company at the time when this Order is made comprises shares in that company carrying the percentage specified against the name of the company in column 2 of that Schedule of the voting rights which are exercisable in all circumstances at general meetings of the company;
    And whereas no previous order has been made fixing a target investment limit in relation to the Government shareholding (as defined as aforesaid) in any such company;
    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 enabling powers, and with the consent of the Treasury, hereby makes the following Order:—
    Citation and commencement
        1.    This Order may be cited as the Electricity (Supply, Transmission and Generating Companies) (Target Investment Limits) Order 1991 and shall come into force on 10th June 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 specified against the name of that company in column 3 of the Schedule of the voting rights which are exercisable in all circumstances at general meetings of the company.



John Wakeham

Secretary of State for Energy

14th May 1991
We consent,

Thomas Sackville

Nicholas Baker

Two of the Lords Commissioners of Her Majesty's Treasury

16th May 1991




Notes:

[1] See section 74(10) of the Electricity Act 1989, and the Electricity Act 1989 (Nominated Companies) (England and Wales) Order 1990 (S.I. 1990/224).

[2] 1989 c. 29.

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