The British Steel Act 1988 (Nominated Company) Order 1988
Section 1(1) of the British Steel Act 1988 provides that, on such day as the Secretary of State may by order appoint, all the property, rights and liabilities to which the British Steel Corporation was entitled or subject immediately before that day shall (subject to section 2(3) of the Act which extinguishes any liability of the Corporation to the Secretary of State in respect of the Corporation’s public dividend capital) become by virtue of section 1 of the Act property, rights and liabilities of a company nominated for the purposes of the section by the Secretary of State.