89 Target investment limit for Government shareholding
Water Act 1989 (1989 c 15) | Legislation

89  Target investment limit for Government shareholding

(1)     The following provisions of this section shall apply separately in relation to each company which is the nominated holding company of a successor company.

(2)     As soon as he considers it expedient and, in any case, not later than six months after the company ceases to be wholly owned by the Crown, the Secretary of State shall by order fix a target investment limit in relation to the aggregate of the shares in the company which are for the time being held, by virtue of any provision of this Chapter, by any of the following, that is to say, the Treasury, the Secretary of State or any nominee of the Treasury or the Secretary of State (in this section referred to as “the Government shareholding”).

(3)     The target investment limit for the Government shareholding in the company shall be expressed as a proportion of the voting rights which are exercisable

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