The Water Reorganisation (Successor Companies) (Transfer of Loans) Order 1989
Schemes made under Schedule 2 to the Water Act 1989 vest in the companies which succeed the water authorities the liability to repay certain loans. This Order transfers to the companies nominated under section 83(1) of the 1989 Act as the holding companies of those successor companies such of those liabilities as relate to sums borrowed or treated as borrowed from the Secretary of State or the Public Works Loan Commissioners. The transfer takes effect on 1st September 1989 or, if later, at the time that control of the successor company passes to its nominated holding company.