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Section 63: Government investment in securities of the successor company.

Telecommunications Act 1984 · 1984 c. 12View on legislation.gov.uk

Part V: Transfer of Undertaking of British Telecommunications

The Treasury or, with the consent of the Treasury, the Secretary of State may at any time, acquire—

securities of the successor company or of any subsidiary of the successor company; or
rights to subscribe for any such securities.

The Secretary of State may not dispose of any securities or rights acquired under this section without the consent of the Treasury.

Any expenses incurred by the Treasury or the Secretary of State in consequence of the provisions of this section shall be paid out of money provided by Parliament.

Any dividends or other sums received by the Treasury or the Secretary of State in right of, or on the disposal of, any securities or rights acquired under this section shall be paid into the Consolidated Fund.

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About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.