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- Point in Time (01/02/1991)
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Version Superseded: 22/07/2004
Point in time view as at 01/02/1991. This version of this provision has been superseded.
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There are currently no known outstanding effects for the Co-operative Development Agency and Industrial Development Act 1984, Section 3.
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(1)The Secretary of State may, by order, on such day as he may appoint—
(a)terminate the exercise by the Agency of its functions except for the purpose of winding up its affairs;
(b)vest in himself any property, rights or liabilities of the Agency; and
(c)dissolve the Agency.
(2)Different days may be appointed for different purposes of this section.
(3)Any order under this section may include such incidental, supplemental, consequential or transitional provisions as the Secretary of State thinks fit.
(4)Any sums received by the Secretary of State by virtue of subsection (1)(b) above shall, if not applied by him for purposes corresponding with the functions assigned to the Agency by the 1978 Act, be paid by him into the Consolidated Fund; and any sums required after the dissolution of the Agency to defray any of its liabilities shall be paid out of money provided by Parliament.
(5)An order under this section shall be made by statutory instrument; but no order containing provision for the purpose specified in subsection (1)(a) above shall be made without first consulting the persons required by section 1(3) of the 1978 Act to be consulted for the purposes of that section and unless a draft of it has been laid before Parliament and approved by a resolution of each House.
Modifications etc. (not altering text)
C1Power conferred by s. 3 not yet exercised
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