The government can take over steel companies if needed to protect national security or the economy. Owners must be paid fair compensation.
A Bill to make provision enabling the Secretary of State in certain circumstances to make regulations relating to the transfer of securities issued by, or property, rights and liabilities of, a steel undertaking; and for connected purposes.
Status: Act of Parliament
Current House: Unassigned
Stage: Royal Assent
Sponsored by: Peter Kyle, Baroness Lloyd of Effra
Introduced: 2026-05-14
Royal Assent: 2026-07-15