| Type: | Public General |
| Long Title: | An Act to extend the power of the United Kingdom Atomic Energy Authority to dispose of shares held by them in any company and the power of the Secretary of State to dispose of shares held by him in companies engaged in activities in the field of atomic energy or radioactive substances; to extend the power of the Secretary of State with respect to the application of sums received by the Authority; and for connected purposes |
| Year: | 1981 |
| Introduced Commons: | Under Secretary of State for Energy (Norman Lamont) Second Reading 10 February 1981 |
| Royal Assent: | 27 July 1981 |
| Status: | Amended |
The Atomic Energy (Miscellaneous Provisions) Act 1981 (1981 chapter 48) is an Act of Parliament of the United Kingdom. The effect of the act was to allow the United Kingdom Atomic Energy Authority, and the secretary of state for energy, to sell, or otherwise dispose of, shares in relevant companies held by them.
The principal aim of the act was to enable the United Kingdom Atomic Energy Authority (UKAEA) and the secretary of state for energy to dispose of shares in companies working with radioactive substances.[1] Under the provisions of the Atomic Energy Act 1971 the UKAEA's interest in radioactive substances used for medicine was transferred to the Radiochemical Centre Ltd., (TRC). It was envisaged that TRC would eventually have a private shareholding free from government intervention. Although the UKAEA and secretary of state had powers to buy shares in relevant companies there was no power to disposes of shares. The 1971 Act provided for a majority of shares in TRC to be in the public sector, however, the government now thought it expedient that the private holding may have a majority interest. The 1981 Act provided for these requirements.
Long title: An Act to extend the power of the United Kingdom Atomic Energy Authority to dispose of shares held by them in any company and the power of the Secretary of State to dispose of shares held by him in companies engaged in activities in the field of atomic energy or radioactive substances; to extend the power of the Secretary of State with respect to the application of sums received by the Authority; and for connected purposes.[2]
The act received royal assent on 27 July 1981.
The act comprised four sections: