Nationalization, also spelled nationalisation, is the act of taking an industry or assets into the public ownership of a national government. Public ownership (also called government ownership, state ownership or state property) refers to Government Ownership of any Nationalization usually refers to private assets, but may also mean assets owned by lower levels of government, such as municipalities. A municipality is an administrative entity composed of a clearly defined territory and its population and commonly denotes a City, Town, or Village, or The opposite of nationalization is usually privatization or de-nationalisation, but may also be municipalization. Privatization is the incidence or process of transferring ownership of business from the Public sector (government to the Private sector (business Municipalization is the transfer of Corporations or other Assets to Municipal ownership A renationalization occurs when state-owned assets are privatized and later nationalized again, often when a different political party or faction is in power. A political party is a Political organization that seeks to attain and maintain political power within Government, usually by participating in electoral A renationalization process may also be called reverse privatization. Privatization is the incidence or process of transferring ownership of business from the Public sector (government to the Private sector (business

The motives for nationalization are political as well as economic. It is a central theme of certain brands of 'state socialist' policy that the means of production, distribution and exchange, should be owned by the state. Socialists believe that public ownership enables people to exercise full democratic control over the means whereby they earn their living and provides an effective means of redistributing wealth and income more equitably.

Nationalized industries, charged with operating in the public interest, may be under strong political and social pressures to give much more attention to externalities. They may be obliged to operate some loss making activities where social benefits are clearly greater than social costs - for example, rural, postal and transport services. As an instance, the U. S. Mail is guaranteed its nationalised status by the Constitution. The government has recognized these social obligations and, in some cases, provides subsidies for such non-commercial operations.

Since the nationalised industries are state owned, the government is responsible for meeting any debts incurred by these industries. For the government of parliamentary systems see Executive (government. Debt is that which is owed usually referencing Assets owed but the term can cover other obligations The nationalized industries do not normally borrow from the domestic market other than for short-term borrowing.

Nationalization may occur with or without compensation to the former owners. If it takes place without compensation it is a case of expropriation. Expropriation refers to Confiscation of Private property with the stated purpose of establishing social equality. Nationalization is distinguished from property redistribution in that the government retains control of nationalized property. Property redistribution is a term applied to various political policies involving Taxation or Expropriation of Property from some in order to finance payments Property is any physical or virtual entity that is owned by an individual Some nationalizations take place when a government seizes property acquired illegally. For example, the French government seized the car-makers Renault because its owners had collaborated with the Nazi occupiers of France. This article is about the country For a topic outline on this subject see List of basic France topics. This is about the company for other uses see Renault (disambiguation. Nazism, which was a short name for National Socialism (Nationalsozialismus refers primarily to the Ideology and practices of the National Socialist German

Contents 1 Compensation 2 Notable nationalizations by country 2.1 Argentina 2.2 Australia 2.3 Bolivia 2.4 Canada 2.5 Channel Islands 2.6 Chile 2.7 Cuba 2.8 Czechoslovakia 2.9 Egypt 2.10 France 2.11 Germany 2.12 Greece 2.13 India 2.14 Iran 2.15 Ireland 2.16 Israel 2.17 Italy 2.18 Japan 2.19 Malta 2.20 Mexico 2.21 New Zealand 2.22 Philippines 2.23 Portugal 2.24 Romania 2.25 Russia and the Soviet Union 2.25.1 Soviet Russia and Soviet Union (1918–1992) 2.25.2 Russia 2.26 South Korea 2.27 Spain 2.28 United Kingdom 2.28.1 British assets nationalised by other countries 2.29 United States 2.30 Venezuela 2.31 Zimbabwe 2.32 Other countries 3 See also 4 Footnotes

Compensation

A key issue in nationalization is payment of compensation to the former owner. The most controversial nationalizations, known as expropriations, are those where no compensation, or an amount far below the likely market value of the nationalized assets, is paid. Expropriation refers to Confiscation of Private property with the stated purpose of establishing social equality. Many nationalizations through expropriation have come after revolutions. A revolution (from the Latin revolutio, "a turnaround" is a fundamental change in power or organizational structures that takes place in a relatively

The traditional Western stance on compensation was expressed by United States Secretary of State Cordell Hull, during the 1938 Mexican nationalization of the petroleum industry, that compensation should be "prompt, effective and adequate. The United States Secretary of State (commonly abbreviated as SecState) is the head of the United States Department of State, concerned with Foreign affairs Cordell Hull ( October 2, 1871 &ndash July 23, 1955) was an American politician from the U The Expropiación Petrolera ("Oil expropriation" is one of the Fiestas Patrias of Mexico, celebrating the date when the President, " According to this view, the nationalizing state is obligated under international law to pay the deprived party the full value of the property taken. The opposing position has been taken mainly by developing countries, claiming that the question of compensation should be left entirely up to the sovereign state, in line with the Calvo Doctrine. The Calvo Doctrine is a Foreign policy doctrine which holds that Jurisdiction in international Investment disputes lies with the country in which the investment Communist states have held that no compensation is due, based on socialist notions of private properties.

In 1962, the United Nations General Assembly adopted Resolution 1803, "Permanent Sovereignty over National Resources," which states that in the event of nationalization, the owner "shall be paid appropriate compensation in accordance with international law. Membership For two articles dealing with membership in the General Assembly see General Assembly members " In doing so, the UN rejected both the traditional Calvo-doctrinist view and the Communist view. The term "appropriate compensation" represents a compromise between the traditional views, taking into account the need of developing countries to pursue reform even without the ability to pay full compensation, and the Western concern for protection of private property.

When nationalizing a large business, the cost of compensation is so great that many legal nationalizations have happened when firms of national importance run close to bankruptcy and can be acquired by the government for little or no money. Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their Creditors Creditors may file a bankruptcy petition against A classic example is the UK nationalization of the British Leyland Motor Corporation. The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located British Leyland was a vehicle manufacturing company formed in the United Kingdom in 1968 as British Leyland Motor Corporation Ltd (BLMC At other times, governments have considered it important to gain control of institutions of strategic economic importance, such as banks or railways, or of important industries struggling economically. The case of Rolls-Royce plc, nationalized in 1971, is an interesting blend of these two arguments. Rolls-Royce plc ( is a British Aircraft engine maker and the second-largest in the world behind GE Aviation. This policy was sometimes known as ensuring government control of the "commanding heights" of the economy, to enable it to manage the economy better in terms of long-term development and medium-term stability. The extent of this policy declined in the 1980s and 1990s as governments increasingly privatized industries that had been nationalized, replacing their strategic economic influence with use of the tax system and of interest rates.

Nonetheless, national and local governments have seen the advantage of keeping key strategic assets in institutions that are not strongly profit-driven and can raise funds outside the public-sector constraints, but still retain some public accountability. Examples from the last five years in the United Kingdom include the vesting of the British railway infrastructure firm Railtrack in the not-for-profit company Network Rail, and the divestment of much council housing stock to "arms-length management companies," often with mutual status. In Law, vesting is to give an immediately secured right of present or future enjoyment For the generic term see Rail tracks. Railtrack was a group of companies that owned the track, signalling, Tunnels Network Rail is a British "not for dividend" Company limited by guarantee whose principal asset is Network Rail Infrastructure Limited a company limited The council house is a form of public or social housing in the United Kingdom.

Notable nationalizations by country

Argentina

• 1948 President Peron nationalised the largely British and French-owned railways. In 1948 during President Peron ’s first term of office the seven British-owned and three French-owned railway companies then operating in Argentina, were purchased by the

Australia

• 1947 Nationalization of Qantas, the leading airline of Australia. Qantas Airways Limited (ˈkwɔntəs ( is the National airline of Australia. For a topic outline on this subject see List of basic Australia topics.
• 1948 The Australian government attempted to nationalize the banks, but the act was declared unconstitutional by the High Court of Australia. For a topic outline on this subject see List of basic Australia topics. The High Court of Australia is the final court of appeal in Australia the highest court in the Australian court hierarchy.

Bolivia

• 2006 On May 1, 2006, newly elected Bolivian leader Evo Morales announces plans to nationalize the country's natural gas industry; foreign-based companies are given six months to renegotiate their existing contracts. Events 305 - Diocletian and Maximian retire from the office of Roman Emperor. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. The Republic of Bolivia (República de Bolivia) named after Simón Bolívar, is a Landlocked country in central South America. Juan Evo Morales Ayma (born October 26 1959 in Orinoca, Oruro) popularly known as Evo (ˈeβo is the President of Bolivia since Natural gas is a Gaseous Fossil fuel consisting primarily of Methane but including significant quantities of Ethane, Propane,

Canada

• 1918 Canadian National Railways, created from several systems nationwide following their bankruptcy during and after World War I, and since privatized. World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All (N. B. VIA Rail Canada, operator of intercity passenger rail, remains nationalised)
• 1944 Hydro-Québec, nationalized electricity concerns in Quebec by the Lesage government. Hydro-Québec is a Crown corporation that provides electricity to Quebec, Canada and the north-eastern parts of the United States Quebec (kwɨˈbɛk Jean Lesage, PC, CC, CD ( June 10, 1912 &ndash December 12, 1980) was a lawyer and politician in Quebec
• 1975 Potash Corporation of Saskatchewan, Province of Saskatchewan nationalized part of the potash industry. The Potash Corporation of Saskatchewan Inc () today generally referred to as PotashCorp, is a Canadian corporation based in Saskatoon, Saskatchewan Many potash producers agreed to sell to the government instead of being nationalized.

Channel Islands

Aurigny Airlines was recently bought by the States of Jersey.

Chile

• 1972 Chilean nationalization of copper mining industry by the government of Salvador Allende. The nationalization of the Chilean copper industry commonly described as the ''Chilenización del cobre'' or Chileanisation of copper was the progressive process by which the Salvador Isabelino Allende Gossens (June 26 1908 – September 11 1973 was President of Chile from November 1970 until his death during the coup d'état of

Cuba

The Castro government gradually expropriated all foreign-owned private companies after the Cuban Revolution of 1959. The Cuban Revolution refers to the revolution that led to the overthrow of the United States proxy ruler General Fulgencio Batista 's regime on January 1, Most of these companies were owned by U. S. corporations and individuals. Bonds at 4. 5% interest over twenty years were offered to U. S. companies, but the offer was rejected by U. S. ambassador Philip Bonsal, who requested the compensation up front. Philip Bonsal (1903-1995 was a United States foreign Diplomat and the last United States Ambassador to Cuba. ^[1] Only a minor amount, $1. 3 million, was paid to U. S. interests before deteriorating relations ended all cooperation between the two governments. ^[1] The United States established a registry of claims against the Cuban government, ultimately developing files on 5,911 specific companies. The Cuban government has refused to discuss the effective and adequate compensation of U. S. claims. The United States government continues to insist on compensation for U. S. companies. In 1966-68, the Castro government nationalized all remaining privately owned business entities in Cuba, down to the level of street vendors.

Czechoslovakia

• 1948 All manufacturing enterprises.

Egypt

• 1956 On July 26, 1956 Egyptian President Gamal Abdel Nasser nationalized the Suez Canal Company company provoking the United Kingdom, France and Israel to launch a combined attack on Egypt that was stopped by the U. Events 657 - Battle of Siffin. 811 - Battle of Pliska; Byzantine Emperor Nicephorus Year 1956 ( MCMLVI) was a Leap year starting on Sunday (link will display full calendar of the Gregorian calendar. This article is about the country of Egypt For a topic outline on this subject see List of basic Egypt topics. Gamal Abdel Nasser (جمال عبد الناصر Gamāl ‘Abd an-Nāṣir; - January 15 1918 September 28 1970) was the second President The Universal Suez Ship Canal Company ( French: Compagnie universelle du canal maritime de Suez, or simply Compagnie de Suez for short was the French S. and the former Soviet Union.

France

Nationalisation in France dates back to the 'regies' or State monopolies first organised under the ancien regime. For example, the monopoly on tobacco sales. Communications companies France Telecom and La Poste are relics of the State postal and telecommunications monopolies. France Télécom () is the main Telecommunication company in France and one of the largest in the world

There was a major expansion of the nationalised sector following World War II. A second wave followed under Francois Mitterrand in the early 1980's but much of his work was reversed by Jacques Chirac. François Maurice Adrien Marie Mitterrand ( 26 October 1916 8 January 1996 served as President of France from 1981 to 1995 elected as representative of the Socialist

• 1938 Societe Nationale des Chemins de Fer Francais (SNCF) (originally a 51% State holding, increased to 100% in 1982)
• 1945 Several nationalizations in France, including most important banks and Renault. SNCF ( Société Nationale des Chemins de fer Français) (French National Railway Company is a French public enterprise This is about the company for other uses see Renault (disambiguation. The firm was seized for Louis Renault's alleged collaboration with Nazi Germany, although this condemnation was without judgement and after his death, making this case remarkable and rare. Louis Renault (February 15 1877 Paris, France &ndash October 24 1944 was a French Industrialist Nazi Germany and the Third Reich are the common English names for Germany under the regime of Adolf Hitler and the National Socialist German Workers A later judgement (1949) admitted that Renault's plant never collaborated. Renault was successful but unprofitable whilst nationalised and remains successful today, after having been privatized in 1996.
• 1946 Charbonnages de France, Electricite de France (EdF), Gaz de France (GdF)
• 1982 The Paris business of M&A advisory firm Rothschild was nationalized and renamed. Charbonnages de France is a French enterprise created in 1946, as a result of the nationalization of the private mining companies Électricité de France ( EDF) is the main Electricity generation and distribution company in France. Gaz de France (GDF was a French company which produced transported and sold Natural gas around the world especially in France its main market

The Paris regional transport operator, Regie Autonome des Transports Parisiens (RATP), can also be counted as a nationalised industry. The Régie Autonome des Transports Parisiens ( RATP/Autonomous Operator of Parisian Transports) is the major transit operator responsible for Public transportation

Germany

The German railways were nationalised after World War I.

Most enterprises in East Germany were nationalised following World War II. After reunification, an agency, Treuhand, was established to return them to private ownership. The Treuhand ( Treuhandanstalt or Treuhand agency) was the agency that privatized the East German enterprises owned as Public property

Greece

• 1972 Nationalization of Olympic Airlines, main airline of Greece. Olympic Airlines (Ολυμπιακές Αερογραμμές Olympiakés Aerogrammés - OA is the Flag carrier Airline of Greece, based Greece (Ελλάδα transliterated: Elláda, historically, Ellás,) officially the Hellenic Republic (Ελληνική Δημοκρατία The company was bought out by its founder, Aristotle Onassis. Aristotelis (also Ari or Aristo) Sokratis Onassis (Αριστοτέλης Ωνάσης (January 15 1906 &ndash March 15 1975 was one

India

• 1949 (1 January) Reserve Bank of India nationalised (Ref. - Reserve Bank of India chronology of events). The Reserve Bank of India was state-owned at the time of Indian independence. The Reserve Bank of India (RBI भारतीय रिज़र्व बैंक is the Central bank of India, and was established on April The term " Indian independence movement " is diffuse incorporating various national and regional campaigns agitations and efforts of both Nonviolent and Militant
• 1953 Air India under the Air Corporations Act 1953. Air India Limited ( एअर इंडिया) is the national Airline of India with a worldwide network of passenger and cargo services
• 1969 Nationalization of 14 Indian banks. Banking in India originated in the first decade of 18th century

Iran

• 1953 Iranian Prime Minister Mohammed Mossadegh nationalized the Anglo-Persian Oil Company in Iran. For a topic outline on this subject see List of basic Iran topics. Mohammad Mosaddeq ( (, pronounced mosæddeq}} also Mosaddegh or Mossadegh) ( May 19 1882 – 5 March 1967) was a major The Anglo-Persian Oil Company ( APOC) was founded in 1908 following the discovery of a large oil field in Masjed Soleiman, Iran.

Ireland

Railways in the Republic of Ireland were nationalised in the 1940's as Coras Iompair Eireann. Córas Iompair Éireann ( abbreviated CIÉ) is a statutory authority which is owned by the Irish Government.

• 2007 On August 3, 2007, The Irish government have been offered a stake in Eircom's copper network infrastructure^[2], should they accept it, it shall represent the return to state ownership of Ireland's Telecommunication's network which was privatised in 1999. Events 8 - Roman Empire General Tiberius defeats Dalmatians on the river Bathinus. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Ireland ( Irish: Éire, ˈeːrʲə is a country in north-western Europe. eircom Group plc is the largest Telecommunications operator in the Republic of Ireland.

Israel

• 1983 Nationalization of the major Israeli banks: Bank Hapoalim, bank Leumi, Discount Bank, Mezrachi bank due to the Bank stock crisis that struck Israel in 1983.

Italy

• 1905 The Italian railways were nationalised as Ferrovie dello Stato. The Ferrovie dello Stato (Italian State Railways or FS is the operator of the Italian Railway network

The regime of Benito Mussolini extended nationalisation, creating the Instituto per il Reconstruzione Industrielle (IRI) as a State holding company for struggling firms, including the car maker Alfa Romeo. Alfa Romeo Automobiles SpA is an Italian Automaker founded in 1910 A parallel body, Ente Nazionale de Idrocarburi (ENI) was set up to manage State oil and gas interests.

Japan

• 1906 Railway Nationalization Act of Japan nationalized 17 railway companies to form the nationwide railway network that was later called Japanese National Railways. The brought many of Japan 's private railway lines under national control. For a topic outline on this subject see List of basic Japan topics. abbreviated or "JNR" was the national Railway network of Japan from 1949 to 1987

Malta

• 1974 Bank of Valletta is founded following nationalisation of the National Bank of Malta

Mexico

• 1982 The nationalization of the Mexican banking system made by President José López Portillo, later in the Carlos Salinas de Gortari presidency (1988-1994) a large number of banks were privatized. Bank of Valletta is Malta 's oldest bank and one of its largest A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money The Constitutional Citizen President of the United Mexican States (the official title in Spanish is Ciudadano Presidente Constitucional de los Estados Unidos Mexicanos José López Portillo y Pacheco ( June 16 1920 – February 17 2004) was the President of Mexico from 1976 to 1982 Carlos Salinas de Gortari ( Mexico City, April 3, 1948) is a Mexican economist and politician affiliated to the Institutional Revolutionary Privatization is the incidence or process of transferring ownership of business from the Public sector (government to the Private sector (business

New Zealand

• 2001 Central government purchased the Auckland railway network from TranzRail. Tranz Rail, formally Tranz Rail Holdings Ltd ( New Zealand Rail Ltd until 1995 was the main rail operator in New Zealand from 1995 until it
• 2003 The Labour Government of New Zealand took an 80% stake in near-bankrupt national air carrier Air New Zealand in exchange for a large financial infusion. New Zealand is an Island country in the south-western Pacific Ocean comprising two main landmasses (the North Island and the South Island Air New Zealand Limited (, Air New Zealand is a scheduled passenger Airline based in Auckland, New Zealand, and the national Flag carrier
• 2004 The rest of the country's rail network is purchased from Toll New Zealand, formerly known as TranzRail. Toll Holdings New Zealand Limited is New Zealand 's largest Trucking company in terms of annual revenue and size A new state owned enterprise, ONTRACK, was established to maintain the rail infrastructure. A government-owned corporation, state-owned enterprise or government business enterprise is a legal entity created by a Government to undertake commercial OnTrack was a Syracuse New York Regional rail line During its operation Syracuse was the smallest city in the United States to have regional train service
• 2008 The rolling stock of Toll New Zealand was purchased by central government, bringing the rail system under total state ownership. Rolling Stock was a Newspaper of ideas and a chronicle of the 1980s published in Boulder, Colorado

Philippines

During the administration of Ferdinand Marcos, important companies such as PLDT, Philippine Airlines, Meralco and the Manila Hotel were nationalized. Ferdinand Emmanuel Edralín Marcos ( September 11, 1917 &ndash September 28, 1989) was President of the Philippines from 1965 to 1986 The Philippine Long Distance Telephone Company () commonly known as PLDT, is the largest telecommunications company in the Philippines. Philippine Airlines Inc (abbreviated PAL) also known historically as Philippine Air Lines, is the national airline of the Philippines The Manila Electric Company ( also known as MERALCO, is the Philippines' largest distributor of electrical power The Manila Hotel is a 570-room On January 17, 2008, at Number One Rizal Park the Manila Hotel Tent City's blessing and grand opening was held at 500 p Other companies were sometimes absorbed into these government-owned corporations, as well as other companies, such as Napocor and the Philippine National Railways, which in their own right are monopolies (exceptions are Meralco and the Manila Hotel). The National Power Corporation ( Filipino: Pambansang Korporasyon sa Elektrisidad) also known as the NPC or Napocor, is a state-owned company Philippine National Railways ( Filipino: Pambansang Daangbakal ng Pilipinas) also known by its acronym PNR, is a state-owned railway system In Economics, a monopoly (from Greek monos, alone or single + polein, to sell exists when a specific individual or enterprise has sufficient Today, these companies have been reprivatized and some, such as PLDT and Philippine Airlines, have been de-monopolized. Others, like government-formed and owned Napocor, are in the process of privatization.

Portugal

After the Carnation Revolution, the Junta de Salvação Nacional (temporary government) nationalized all the banking, ensurance, petrol and industries companies. The Carnation Revolution (Revolução dos Cravos was an almost bloodless military-led pro-democratic Coup d'état, started on April 25, 1974, in Lisbon The National Salvation Junta ( Portuguese: Junta de Salvação Nacional, pron. Along with the telecommunications companies, which were state-owned even before the Revolution, all the nacionalized companies were reprivatized.

Romania

• 1948 With the Decree 119 of June 1948 the new Romanian communist regime nationalised all the existing private companies and their assets in Romania leading to the transformation of the Romanian economy from a market economy to a planned economy. Romania ( dated: Rumania, Roumania A market economy is a realized Social system based on the Division of labour in which the prices of Goods and Services are determined in a A planned economy or directed economy is an Economic system in which the Government or Workers' councils manages the Economy.

Russia and the Soviet Union

Soviet Russia and Soviet Union (1918–1992)

• 1918 All manufacturing enterprises and many retailing enterprises.

Russia

• 1998 State began seizing Gazprom assets, claiming that the company owed back taxes. OJSC Gazprom, (Газпром long version Открытое Aкционерное Oбщество Газпром sometimes transcribed as Gasprom is the largest Russian company Privatization of Gazprom from the mid 1990's had been reduced to 38. 37% with the intention of achieving full privatization. Privatization is the incidence or process of transferring ownership of business from the Public sector (government to the Private sector (business However, the stake of the Russian Government in Gazprom has since been increased to 50% with Vladimir Putin's plan to increase the stake to a controlling position. Vladimir Vladimirovich Putin (; born 7 October 1952 in Leningrad, USSR; now Saint Petersburg, Russia was the second President of Russia Gazprom is also buying up both Russian and other international Utility companies.

South Korea

• 1946 USAMGIK nationalized all South Korean private railroad companies and made Department of Transportation. The United States Army Military Government in Korea, also known as USAMGIK, was the official ruling body of the southern half of the Korean Peninsula from This now becomes Korail. Korail is the national railroad operator in South Korea. Korail operates passenger and freight trains throughout South Korea

Spain

• 1941 Spain's railways were nationalised, as RENFE, in the aftermath of the Spanish Civil War. Renfe Operadora is the State-owned company which operates freight and passenger Trains on the 1668-mm " Iberian gauge " and 1435-mm "
• 1983 Nationalization without compensation of the Spanish Rumasa. Rumasa ( Ruíz Mateos Sociedad Anónima) was a Holding company founded by Spanish entrepreneur José María Ruiz Mateos and expropriated by the Separate business were later privatized.

United Kingdom

The following companies/industries were the subject of nationalisation in the given year:

• 1869 Nationalisation of inland telegraphs under the GPO [1]
• 1875 Suez Canal Company - The Egyptian share in the company was bought out by the British Government. The Suez Canal is a Canal in Egypt. Opened in 1869 it allows Water transportation between Europe and Asia without circumnavigation
• 1916 Liquor Trade - The nationalisation of pubs and breweries in Carlisle, Gretna, Cromarty and Enfield under the State Management Scheme; mainly an attempt to restricting alcohol consumption by armaments factory workers. The State Management Scheme (known locally as 'The Scheme' saw the UK government take over and run the brewing distribution and sale of liquor in three regions of the UK from Carlisle (pronounced CARLYLE(emphasis on the first syllable is a City in northern England the largest settlement in Cumbria. Gretna (Greatna is a village in Dumfries and Galloway, Scotland. The Royal Burgh of Cromarty ( Cromba in Gaelic) is a Burgh in Ross and Cromarty, Highland, Scotland. The State Management Scheme (known locally as 'The Scheme' saw the UK government take over and run the brewing distribution and sale of liquor in three regions of the UK from The scheme was privatised by asset transfer in 1973. Privatization is the incidence or process of transferring ownership of business from the Public sector (government to the Private sector (business [2]
• 1926 Central Electricity Board introduced under The Electricity (Supply) Act 1926 founded National Grid UK and set up a national standard for electricity supply in the UK. The United Kingdom Central Electricity Board was set up under The Electricity (Supply Act 1926 to standardise the nation's electricity supply. The National Grid is the high-voltage Electric power transmission network in Great Britain, connecting Power stations and major substations and
• 1927 British Broadcasting Company (a privately owned company) became British Broadcasting Corporation (BBC), a public corporation operating under a Royal Charter. The British Broadcasting Company Ltd was a British commercial company formed on 18 October 1922 by British and American electrical companies doing business in the United A Statutory Corporation is a corporation created by Statute. Their precise nature varies by jurisdiction thus they might be ordinary companies/corporations owned by a government A Royal Charter is a Charter granted by the Sovereign on the advice of the Privy council to legitimize an incorporated body such as a city company
• 1933 London Transport
• 1938 Nationalisation of UK Coal Royalties [3] under the Coal Commission
• 1939 British Overseas Airways Corporation (BOAC) later to become British Airways (BA) - combining the private British Airways Ltd. and the state owned Imperial Airways
• 1939 At the outset of WWII, much of British industry was subjected to State regulation or control, although not nationalised as such. The board The LPTB had seven members a chairman and six other members The Coal Commission was a United Kingdom government agency created to own and manage coal reserves The British Overseas Airways Corporation ( BOAC) was the British state airline from 1939 until 1946 and the long-haul British state airline from 1946 British Airways plc ( is the national Airline and Flag carrier of the United Kingdom and one of the largest in Europe British Airways Ltd was a private airline company operating in Europe formed in 1935 Imperial Airways was the early British commercial long range air transport company operating from 1924 to 1939 and serving parts of Europe but especially the Empire routes to World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including
• 1943 North of Scotland Hydro-Electricity Board
• 1946 British Coal, Bank of England - the latter had had private shareholders who were bought out by the state. The British Coal Corporation was a Nationalised corporation in the United Kingdom responsible for the extraction of Coal. The Bank of England (formally the Governor and Company of the Bank of England) is a state-owned institution and the Central bank of the United Kingdom
• 1947 Central Electricity Generating Board and area electricity boards, Cable & Wireless Ltd - the latter had had private shareholders who were bought out by the state. The Central Electricity Generating Board (CEGB was the cornerstone of the British electricity industry for almost 40 years from 1957 to Privatisation in the Cable & Wireless ( is a British Telecommunications company In the mid-1980s it became the first company in the UK to offer an alternative Telephone
• 1948 National rail, water transport, some road haulage, road passenger transport and Thomas Cook & Son under the British Transport Commission. Thomas Cook ( 22 November 1808 &ndash 18 July 1892) of Melbourne Derbyshire, founded the travel agency that is now Thomas Cook The British Transport Commission (BTC was created by Clement Attlee 's post-war Labour government as a part of its nationalisation programme to oversee Separate elements operated as British Railways, British Road Services, and British Waterways, also National Health Service taking over a mixture of previously Local Authority, private commercial and charitable organisations. See also Rail transport in Great Britain, National Rail, Network Rail This article is about the defunct entity "British Railways" British Road Services (BRS was the British road transport company formed by the Nationalisation of Britain's road haulage industry under the British Transport British Waterways is the informal name of the British Waterways Board a Statutory corporation sponsored by the Department for Environment Food and Rural Affairs The National Health Service is the name commonly used to refer to the four Publicly-funded healthcare systems of the United Kingdom collectively or individually (although
• 1949 British Gas
• 1951 Iron and Steel Industry (denationalised by the following Conservative Government) [4]
• 1967 British Steel
• 1969 National Bus Company, combining former interests of the British Transport Commission with others acquired from the British Electric Traction group. British Gas plc was formerly the Monopoly gas supplier in the United Kingdom. British Steel was a major British Steel producer It originated as a nationalised industry the British Steel Corporation (BSC formed in 1967 The National Bus Company, or NBC, was the Australian brand for National Express Group 's Mass transit Bus services in Melbourne and
• 1971 Rolls-Royce (1971) Ltd - The strategically-important aero-engine part of the recently-bankrupt Rolls Royce Limited. Rolls-Royce plc ( is a British Aircraft engine maker and the second-largest in the world behind GE Aviation. For the present day company see Rolls-Royce plc. For other uses see Rolls-Royce (disambiguation.
• 1973 Local authority water supply undertakings in England and Wales
• 1974 British Petroleum - the combination of a 50% stake bought by Winston Churchill as First Lord of the Admiralty after World War I with around a 25% stake acquired by the Bank of England from Burmah Oil made the UK Government directly or indirectly BP's majority shareholder, though commercial independence was maintained. The Water Act 1973 (1973 c37 is an Act of the Parliament of the United Kingdom that reorganised the Water industry in England and Wales BP plc, previously known as British Petroleum, is the third largest global Energy company, a multinational oil company (" Oil major Sir Winston Leonard Spencer-Churchill, KG, OM, CH, TD, FRS, PC, PC (Can ( 30 November 1874 The Bank of England (formally the Governor and Company of the Bank of England) is a state-owned institution and the Central bank of the United Kingdom The Burmah Oil Company was founded in Glasgow, Scotland, in 1896 by David Sime Cargill to develop oil interests on the Indian subcontinent. The shares were all sold during the 1980's.
• 1975 National Enterprise Board - a State holding company for full or partial ownership of industrial undertakings
• 1976 British Leyland Motor Corporation - became British Leyland upon nationalization. The National Enterprise Board (NEB was a government body set up in the United Kingdom in 1975 to implement the Wilson Labour government 's objective of extending British Leyland was a vehicle manufacturing company formed in the United Kingdom in 1968 as British Leyland Motor Corporation Ltd (BLMC Privatized in 1986 to British Aerospace. British Aerospace (BAe was a UK aircraft and defence-systems manufacturer that is now part of BAE Systems.
• 1977 British Aerospace - combining the major aircraft companies British Aircraft Corporation, Hawker Siddeley and others. British Aerospace (BAe was a UK aircraft and defence-systems manufacturer that is now part of BAE Systems. The British Aircraft Corporation ( BAC) was a British Aircraft manufacturer formed from the government-pressured merger of English Electric Aviation Hawker Siddeley was a group of British manufacturing companies renowned for their aircraft production. British Shipbuilders - combining the major shipbuilding companies including Cammell Laird, Govan Shipbuilders, Swan Hunter, Yarrow Shipbuilders
• 1997 Docklands Light Railway - John Prescott announced to the 1997 Labour Party Conference that he had nationalised this. British Shipbuilders Corporation was a Public corporation that owned and managed the UK shipbuilding industry from 1977 and through the 1980s Cammell Laird, one of the most famous names in British Shipbuilding during the nineteenth and twentieth centuries came about following the merger of Laird Govan Shipbuilders Ltd was a British company of the Clydeside area of Glasgow in Scotland taking its name from the Govan Swan Hunter, formerly known as " Swan Hunter & Wigham Richardson " was one of the best known Shipbuilding companies in the United Kingdom. Yarrow (Shipbuilders Limited (YSL often styled as simply Yarrows, was a major shipyard now part of BVT Surface Fleet, a joint venture between BAE Systems The Docklands Light Railway (DLR is a Light rail system serving the redeveloped Docklands area of East London England.
• 2001 Railtrack - although not nationalised as such the takeover by Network Rail of the railway infrastructure in 2002 following the liquidation of Railtrack, which although not a state owned company has no shareholders and is underwritten by the State. For the generic term see Rail tracks. Railtrack was a group of companies that owned the track, signalling, Tunnels Network Rail is a British "not for dividend" Company limited by guarantee whose principal asset is Network Rail Infrastructure Limited a company limited In addition prior to this the government began to make use of a residual shareholding of 0. 2% (including voting rights) in Railtrack Group Plc leftover from the original sale. [5]
• 2008 Northern Rock - announced by Alistair Darling, Chancellor of the Exchequer on 17 February 2008 as a temporary measure. See also Nationalisation of Northern Rock Northern Rock plc is a British Bank, currently under public ownership The bank will be run at 'arms length' as a commercial business and sold to a private buyer in the future. [6]

British assets nationalised by other countries

• 1940s Argentine railways
• 1953 British Petroleum's Iranian assets by their government (actually a nationalisation of part of a part-nationalised company)
• 1956 The Egyptian Government nationalised the Suez Canal, owned by the Suez Canal Company which was part owned by the British State. BP plc, previously known as British Petroleum, is the third largest global Energy company, a multinational oil company (" Oil major This article is about the country of Egypt For a topic outline on this subject see List of basic Egypt topics. The Suez Canal is a Canal in Egypt. Opened in 1869 it allows Water transportation between Europe and Asia without circumnavigation

United States

• All United States railroads were nationalized as the United States Railroad Administration during World War I as a wartime measure but were returned to their private owners almost immediately after the war. The United States of America —commonly referred to as the The United States Railroad Administration was the name of the nationalized Railroad system of the United States between 1917 and 1920 World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All
• The National Railroad Passenger Corporation (Amtrak) is a government-owned corporation created in 1971 for the express purpose of relieving American railroads of their legal obligation to provide inter-city rail service. The National Railroad Passenger Corporation, Doing business as Amtrak, is a Government-owned corporation that was organized on May 1, 1971 A government-owned corporation, state-owned enterprise or government business enterprise is a legal entity created by a Government to undertake commercial Inter-city rail services are express Train passenger services which cover longer distances than Commuter trains Africa Inter-city services are reasonably They were trying to get out of this obligation anyway, but by taking over their passenger rail assets, Amtrak was able to keep the passenger trains running.
• In 1976 the Consolidated Rail Corporation (Conrail), another government corporation, was created to take over the operations of six bankrupt rail lines operating primarily in the Northeastern United States; Conrail was privatized in 1987. Consolidated Rail Corporation, also known as Conrail, began operations on April 1, 1976 as a federally funded takeover of the major railroad The Northeast is a region of the United States. As defined by the U Initial plans for Conrail would have made it a truly nationalized system like that during World War I, but an alternate proposal by the Association of American Railroads won out. The Association of American Railroads is an industry trade group representing primarily the major freight railroads of
• Organization of the Tennessee Valley Authority entailed the nationalization of the facilities of the former Tennessee Electric Power Company in 1939. The Tennessee Valley Authority (TVA is a federally owned Corporation in the United States created by congressional charter in May 1933 to provide
• In 2001, in response to the September 11th attacks, the then-private airport security industry was nationalized and put under the authority of the Transportation Security Administration. The Transportation Security Administration ( TSA) is a US government agency that was created as part of the Aviation and Transportation Security Act

Venezuela

• 2007 On May 1, 2007, Venezuela stripped the world's biggest oil companies of operational control over massive Orinoco Belt crude projects, a controversial component in President Hugo Chavez's nationalization drive. Events 305 - Diocletian and Maximian retire from the office of Roman Emperor. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Venezuela (ˌvɛnəˈzweɪlə) officially the Bolivarian Republic of Venezuela (Spanish República Bolivariana de Venezuela) is a country on the The Orinoco Belt is a territory which occupies the southern strip of the eastern Orinoco River Basin in Venezuela. Hugo Rafael Chávez Frías (ˈuɰo rafaˈel ˈtʃaβ̞es ˈfɾias (born July 28 1954 is the current President of Venezuela.
• 2008 On April 3, 2008, Venezuelan President Hugo Chavez ordered the nationalization of the cement industry. Events 1043 - Edward the Confessor is crowned King of England. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Hugo Rafael Chávez Frías (ˈuɰo rafaˈel ˈtʃaβ̞es ˈfɾias (born July 28 1954 is the current President of Venezuela. [7]
• 2008 On April 9, 2008, Hugo Chavez ordered the nationalization of Venezuelan steel mill Sidor, in which Luxembourg-based Ternium currently holds a 60% stake. Events 193 - Septimius Severus is proclaimed Roman Emperor by the army in Illyricum (in the Balkans) 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Hugo Rafael Chávez Frías (ˈuɰo rafaˈel ˈtʃaβ̞es ˈfɾias (born July 28 1954 is the current President of Venezuela. Steel Mill was one of Bruce Springsteen 's early bands and performed regularly on the Jersey Shore, in Virginia, and also in California from 1969 Luxembourg (Groussherzogtum Lëtzebuerg Grand-Duché de Luxembourg Großherzogtum Luxemburg is a small Landlocked country in Western Europe, bordered by Ternium ( is a Steel maker in the Americas that produces flat and long steel products Sidor employees and the Government hold a 20% stake respectively. [8]

Zimbabwe

Zimbabwe has nationalized its food distribution infrastructure. See also Great Zimbabwe National Monument. For information about the March and June 2008 presidential elections see Zimbabwean presidential election

Other countries

• Nationalization of the oil industry in numerous countries, including Libya, Kuwait, Mexico, Nigeria, Saudi Arabia, and Venezuela. Libya ( ليبيا ar-Latn Lībiyā; Libyan vernacular: Lībya; Amazigh:) officially the Great Socialist People's Libyan Arab The State of Kuwait ( دولة الكويت IPA [dawlatt̪ alkuwajt̪]) is a sovereign Arab Emirate on the coast of the Persian Gulf, enclosed The United Mexican States ( or commonly Mexico (ˈmɛksɪkoʊ () is a federal constitutional Republic in North America. Nigeria, officially named the Federal Republic of Nigeria, is a federal Constitutional republic comprising thirty-six states and one Federal The Kingdom of Saudi Arabia, KSA ( المملكة العربية السعودية, al-Mamlaka al-ʻArabiyya as-Suʻūdiyya) or Suudi Venezuela (ˌvɛnəˈzweɪlə) officially the Bolivarian Republic of Venezuela (Spanish República Bolivariana de Venezuela) is a country on the

See also

• Compulsory purchase
• Eminent domain
• Expropriation
• Privatization
• Reprivatization
• Public ownership

• Railway nationalization

Footnotes

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