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Nationalization (nationalisation in British English) is the process of transforming privately owned assets into public assets by bringing them under the public ownership of a national government or state. [1] Nationalization contrasts with privatization and with demutualization.
1868 Nationalisation of inland telegraphs under the General Post Office with the Telegraph Act 1868. [69] 1875 Suez Canal Company - The Egyptian share in the company was bought by the government. 1912 Nationalisation of National Telephone Company under the GPO, apart from Portsmouth and Hull. The Portsmouth telephone service was nationalised ...
The reasons for nationalization may include: Saving a very valuable company from bankruptcy; Confiscation of assets; Executing eminent domain; Nationalization is essentially a move by the nation of the company to acquire controlling interest in the company, either through buying majority shares with a motive to: Eliminate dominance of the ...
Breaking down the banking terms you run into daily will help you better understand where your money is going and how it is growing. GOBankingRates' Glossary of Basic Banking Terms This glossary of...
Pages in category "Nationalization" ... Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
An Act to bring the capital stock of the Bank of England into public ownership and bring the Bank under public control, to make provision with respect to the relations between the Treasury, the Bank of England and other banks and for purposes connected with the matters aforesaid. Citation: 9 & 10 Geo. 6. c. 27: Introduced by: Hugh Dalton (Commons)
Following the nationalisation of Northern Rock, the Act allowed for the nationalisation of the mortgage and personal loan book of Bradford & Bingley on 29 September 2008. [ 5 ] On 8 October 2008, the Treasury announced that an order under the Act was being used to transfer all retail deposits with Heritable Bank , a UK-based banking subsidiary ...
The UK’s biggest water supplier has 16 million households across London and the South East.