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Electricity Act 1989
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Changes over time for: Section 77
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Electricity Act 1989, Section 77 is up to date with all changes known to be in force on or before 28 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 4(1)(da) inserted by 2023 c. 52 s. 205(2)(b)
- s. 4(3CA) inserted by 2023 c. 52 s. 205(3)
- s. 4(3EA) inserted by 2023 c. 52 s. 205(5)
- s. 6(1)(ea) inserted by 2023 c. 52 s. 205(8)(b)
- s. 6(2AA) inserted by 2023 c. 52 s. 205(9)
- s. 6(6E) inserted by 2023 c. 52 s. 205(10)
- s. 8A(1C) inserted by 2023 c. 52 s. 206(6)
- s. 10NA inserted by 2023 c. 52 s. 207(2)
- s. 11E(2)(d) and word inserted by 2013 c. 32 s. 138(5)(b)(iii)
- s. 15(2)(aa) inserted by S.I. 2019/93, Sch. 1 para. 3(2)(b) (as substituted) by S.I. 2019/1245 reg. 19 (This amendment not applied to legislation.gov.uk. The affecting statutory instrument has no legal effect. It was made under a procedure which meant that it ceased to have effect 28 days after signing unless it was debated and approved in Parliament within that time. It was not debated and approved within 28 days, so it has expired with no effect.)
- s. 43(8) inserted by 2024 c. 13 Sch. 29 para. 9
- s. 44A inserted by 1992 c. 43 s. 23
- s. 44A(6)(b)(i) words substituted by 2013 c. 22 Sch. 9 para. 52
- s. 44B(1)(a)(iiia) inserted by 2023 c. 52 Sch. 17 para. 8
- s. 56C(6)(d) and word inserted by 2013 c. 32 s. 138(5)(d)(ii)
- s. 56CB(7) inserted by 2024 c. 13 Sch. 30 para. 10(5)
77 Temporary restrictions on borrowings etc.E+W+S
(1)If articles of association of a successor company confer on the Secretary of State powers exercisable with the consent of the Treasury for, or in connection with, restricting the sums of money which may be borrowed or raised by the group during any period, those powers shall be exercisable in the national interest notwithstanding any rule of law and the provisions of any enactment.
(2)For the purposes of this section an alteration of the articles of association of a successor company shall be disregarded if the alteration—
(a)has the effect of conferring or extending any such power as is mentioned in subsection (1) above; and
(b)is made at a time when that company has ceased to be wholly owned by the Crown.
(3)In this section—
“group”, in relation to a company, means that company and all of its subsidiaries taken together;
“subsidiary” [F1has the meaning given by] [F2section 1159 of the Companies Act 2006].
Textual Amendments
F1Words substituted by S.I. 1990/1395, reg. 2
F2Words in s. 77(3) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 102(5) (with art. 10)
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