The effect of the act was to allow the United Kingdom Atomic Energy Authority, and the secretary of state for energy, to sell, or otherwise dispose of, shares in relevant companies held by them.

The principal aim of the act was to enable the United Kingdom Atomic Energy Authority (UKAEA) and the secretary of state for energy to dispose of shares in companies working with radioactive substances.

[1] Under the provisions of the Atomic Energy Act 1971 the UKAEA's interest in radioactive substances used for medicine was transferred to The Radiochemical Centre (TRC).

It was envisaged that TRC would eventually have a private shareholding free from government intervention.

[1] Long title: "An Act to extend the power of the United Kingdom Atomic Energy Authority to dispose of shares held by them in any company and the power of the Secretary of State to dispose of shares held by him in companies engaged in activities in the field of atomic energy or radioactive substances; to extend the power of the Secretary of State with respect to the application of sums received by the Authority; and for connected purposes.