Dissolution of subsidiary established by regulation

In force

(1)

The

Governor may, by regulation, dissolve a subsidiary established by regulation under this Part.

(2)

The regulations may—

(a)

provide for the disposition of the assets and liabilities of the subsidiary;

and

(b)

make any transitional or other provision that is necessary or expedient in connection with the dissolution of the subsidiary.

(3)

Notwithstanding subsection (2), on the dissolution of a subsidiary under this section, the liabilities of the subsidiary become liabilities of its parent corporation subject to any provision made by regulation transferring the liabilities to the Crown or some other instrumentality of the

Crown.

Regulations

This provision refers to the regulations (The regulations). Made under this Act:

4 more instruments made under this Act are listed on the Act’s overview.

Research tools for this sectionSubscription

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.

25 Dissolution of subsidiary established by regulation