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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Enterprise Act 2016 (Commencement No. 5) Regulations 2017 No. 842 (C. 69) URL: http://www.bailii.org/uk/legis/num_reg/2017/uksi_2017842_en_1.html |
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Statutory Instruments
Enterprise
Made
17th August 2017
These Regulations are made in exercise of the powers conferred by section 44(5) of the Enterprise Act 2016(1).
In accordance with section 38(1) of the Enterprise Act 2016, 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 which states-
(i)the kind of disposal intended,
(ii)the expected time-scale for disposal,
(iii)the Secretary of State's objectives for the disposal.
Accordingly, the Secretary of State makes the following Regulations:
1. These Regulations may be cited as the Enterprise Act 2016 (Commencement No. 5) Regulations 2017.
2. Section 37 of the Enterprise Act 2016 (Disposal of Crown's shares in UK Green Investment Bank company) comes into force on the day after the day on which these Regulations are made.
Joseph Johnson
Minister of State for Universities, Science, Research and Innovation
Department for Business, Energy and Industrial Strategy
17th August 2017
(This note is not part of the Regulations)
These are the fifth commencement regulations made under the Enterprise Act 2016 (c.12). Certain provisions came into force on the passing of the Act.
Regulation 2 commences section 37 of the Enterprise Act 2016 on the day after the day on which these Regulations are made. Section 37 amends Part 1 of the Enterprise and Regulatory Reform Act 2013. In particular, section 37 removes elements of Government control over the corporate policy of the UK Green Investment Bank ("GIB"). The purpose of the amendments is to enable the GIB to be reclassified to the private sector following a disposal of the Crown's shares in the GIB.
In accordance with section 38(1) of the Enterprise Act 2016, on 3rd March 2016 the Secretary of State laid before Parliament a report on the proposed disposal which states: the kind of disposal intended, the expected time-scale for the disposal, and the Secretary of State's objectives for the disposal.
A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
(This note is not part of the Regulations)
The following provisions of the Enterprise Act 2016 have been brought into force by commencement regulations made before the date of these Regulations:
| Provision | Date of commencement | S.I. No. |
|---|---|---|
| Section 1 (partially), Schedule 1 | 06.04.2017 | 2017/473 |
| Section 17 | 01.10.2016 | 2016/695 |
| Section 19 | 01.10.2016 | 2016/695 |
| Section 21 | 01.10.2016 | 2016/695 |
| Section 22 | 01.04.2017 | 2017/346 |
| Section 23 | 01.04.2017 | 2017/346 |
| Section 25 | 01.04.2017 | 2017/346 |
| Section 26 | 04.07.2016 | 2016/695 |
| Section 27 | 04.07.2016 | 2016/695 |
| Section 36 | 01.02.2017 | 2017/70 |
| Section 39 | 21.07.2016 | 2016/695 |
| Section 40 | 21.07.2016 | 2016/695 |
| Section 41 | 01.02.2017 | 2017/70 |
| Schedule 4 | 01.04.2017 | 2017/346 |
| Schedule 6 (partially) | 01.02.2017 | 2017/70 |
The following provisions of the Enterprise Act 2016 will be brought into force, to the extent that they are not already in force, by commencement regulations made before the date of these Regulations: