PART 8Other enterprise-related provisions
UK Green Investment Bank
38UK Green Investment Bank: transitional provision
1
The Secretary of State may not make regulations under section 44 appointing the day on which section 37 comes into force unless the Secretary of State has—
a
decided to make a disposal of shares held by the Crown in a UK Green Investment Bank company, and
b
laid before Parliament a report on the proposed disposal (or, if more than one, on each of them) which states—
i
the kind of disposal intended,
ii
the expected time-scale for the disposal, and
iii
the Secretary of State's objectives for the disposal.
2
In this section “UK Green Investment Bank company” means—
a
the public company limited by shares incorporated on 15 May 2012 with the company number SC424067 and with the name UK Green Investment Bank plc, or
b
a company that is or at any time has been in the same group as that company.
3
For the purposes of subsection (2) a company is to be regarded as being in the same “group” as another company, if, for the purposes of section 1161(5) of the Companies Act 2006, the company is a group undertaking in relation to that other company.