The companies1 which, when they were wholly owned by the Crown2, became entitled or subject in accordance with any restructuring scheme3 to any property, rights or liabilities are known as 'successor companies'4. Provision was made in the Coal Industry Act 1994 for the financial structure of these companies and related matters5, and the Secretary of State6 was required, with the consent of the Treasury, to set target investment limits for government holding in successor companies limited by shares
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