s 50 Government investment in securities.
(1) This section applies if any property, rights or liabilities are transferred under a transfer scheme to a transferee which at the time of the transfer is— (a) a company which is wholly owned by the Crown, (b) a company which is wholly owned by the CAA, or (c) a company which is a wholly owned subsidiary of a company falling within paragraph (a) or (b). (2) The Treasury or the Secretary of State with the Treasury’s consent may— (a) acquire securities of the transferee by subscription or purchase; (b) acquire options to acquire or dispose of securities of the transferee. (3) The Secretary of State must not dispose of any securities or options acquired under this section without the Treasury’s consent.