SCHEDULES
SCHEDULE 5Transitional provisions and savings
Part IPublic gas suppliers' authorisations
Effect of schemes
6
1
Subject to the provisions of paragraph 7 below, on the appointed day all property, rights and liabilities—
a
to which immediately before that day the public gas supplier was entitled or subject; and
b
which are allocated to the nominated associate by the scheme under paragraph 2 above,
shall become by virtue of this paragraph property, rights and liabilities of that associate.
2
On the appointed day the public gas supplier’s authorisation under section 7 of the 1986 Act shall have effect as provided for by the scheme under paragraph 4 above.