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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Supply of Razors and Razor Blades (Interim Provision) Order 1991 No. 785 URL: http://www.bailii.org/uk/legis/num_reg/1991/uksi_1991785_en.html |
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Statutory Instruments
MONOPOLIES AND MERGERS
Made
21st March 1991
Laid before Parliament
21st March 1991
Coming into force
21st March 1991
Whereas the Secretary of State, in the circumstances specified insubsection (1) ofsection 56 of the Fair Trading Act 1973(1) has under consideration the making of an Order underthat section exercising powers specified in Schedule 8 to that Act forthe purpose of remedying or preventing the adverse effects specified ina report of the Monopolies and Mergers Commission entitled"Razors and razor blades-�a report on the supply in the UnitedKingdom of razors and razor blades for wet shaving use"(2);
And whereas, in the opinion of the Secretary of State, the doing ofthe things specified in Articles 2 and 3 of this Order might impede theoperation of the Order which he has under consideration as aforesaid:
Now, therefore, the Secretary of State, in exercise of the powersconferred on him by sections 89(2) and (3)(a) and 90(3) of the said Act(3) and with a view to achieving the purpose for which thepowers specified in paragraph 1 of Schedule 8 to the said Act areproposed to be exercised by the Order which he has under considerationas aforesaid, hereby makes the following Order:
1. This Order may be cited as the Supply of Razors and Razor Blades(Interim Provision) Order 1991 and shall come into force at 6.00 pm on21st March 1991.
2. Gillette UK Limited shall not, in the United Kingdom orelsewhere-�
(a)assign, transfer, surrender or compound to or for the benefit of anyother person any right or interest which it has or is entitled to in,under or in respect of-�
(i)any share, stock or other interest in or in respect of Swedish MatchNV (a company incorporated in The Netherlands) or the capital of thatcompany, or
(ii)any agreement relating to any such share, stock or other interest,or
(b)agree to do any of the things mentioned in paragraph (a) above.
3. Lustrasilk International UK Limited shall not, in the United Kingdomor elsewhere-�
(a)assign, transfer, surrender or compound to or for the benefit of anyother person-�
(i)the whole or any part of any debt owed by the said Swedish Match NV,or
(ii)the benefit of the whole or any part of any such debt, or
(iii)any right or interest which it has or is entitled to in, under or inrespect of any such debt or the benefit of any such debt, or
(b)forgive or accept any repayment of or in respect of the whole or anypart of any such debt, or
(c)agree to do any of the things mentioned in paragraphs (a) and (b)above.
Peter Lilley
Secretary of State for Trade and Industry
21st March 1991
(This note is not part of the Order)
This Order prohibits Gillette UK Limited and LustrasilkInternational UK Limited from doing things which might impede theoperation of an Order which the Secretary of State has underconsideration for remedying or preventing the adverse effectsspecifiedin the Monopolies and Mergers Commission report on Razors andRazor Blades(Cm. 1472, obtainable from Her Majesty's Stationery Office).
Gillette UK Limited is prohibited from disposing, or agreeing todispose, of any equity interest which it has in Swedish Match NV or anyagreement relating to the equity of Swedish Match.
Lustrasilk International UK Limited is prohibited from disposing, oragreeing to dispose, of any interest which has in the indebtedness ofSwedish Match, and from forgiving or accepting repayment of any debtowed to it by Swedish Match.
Cm. 1472.
Section 89(2) was amended by the Companies Act 1989(c.40), section 153 and Schedule 20, paragraph 15(2).