Statutory Instrument 1995 No. 1477

The Coal Industry (Coal Mining Successor Companies Target Investment Limit) Order 1995

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© Crown Copyright 1995

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1995 No. 1477

COAL INDUSTRY

The Coal Industry (Coal Mining Successor Companies Target Investment Limit) Order 1995

Whereas each company, the name of which is listed in the first column of the Schedule to this Order, is a successor company^[1] for the purposes of the Coal Industry Act 1994^[2];

And whereas each company which is so listed ceased to be wholly owned by the Crown on the date shown opposite its name in the second column of the Schedule to this Order;

And whereas there is no Government shareholding^[3] in any company which is so listed at the time when this Order is made;

And whereas no previous order has been made fixing a target investment limit in relation to the Government shareholding in any company which is so listed;

Now, therefore, the Secretary of State, in exercise of the powers conferred upon him by section 16(2) of the Coal Industry Act 1994, 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 Coal Industry (Coal Mining Successor Companies Target Investment Limit) Order 1995 and shall come into force on 23rd June 1995.

    2.    The target investment limit in relation to the Government shareholding in each of the companies, the name of which is listed in the first column of the Schedule to this Order, shall be one half of one per cent. of the voting rights which are exercisable in all circumstances at general meetings of the company in question.

Richard Page,

Parliamentary Under-Secretary for Industry and Energy,
Department of Trade and Industry.

1st June 1995
We consent,

Timothy Kirkhope,

Timothy Wood,

Two of the Lords Commissioners of Her Majesty's Treasury.

6th June 1995

[1] See section 65(1) of the Coal Industry Act 1994. back

[2] 1994 c. 21. back

[3] See section 16(2) of the Coal Industry Act 1994. back

Explanatory Note