BAA GOLDEN SHARES
February 1st, 2003
BY KEITH NUTHALLTHE BRITISH government's golden share system, granting it control over any disposal or winding up of assets owned by the privatised British Airports Authority, breaks European Union law and should be reformed, an advocate general of the European Court of Justice has claimed. In a formal opinion, which is expected to influence a full court, Dámaso Ruiz-Jarabo said that because such decisions are not open to review by British courts to establish proportionality, the golden share system breaks EU capital movement rules. The system is therefore ...
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