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Petroleum Act 1998
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Rhagor o Adnoddau
Changes over time for: Section 38B
Alternative versions:
- 15/02/1999- Amendment
- 26/01/2009- Amendment
- 01/10/2016
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Status:
Point in time view as at 01/10/2016.
Changes to legislation:
There are currently no known outstanding effects for the Petroleum Act 1998, Section 38B.
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[F138BDirections to provide information about protected assetsU.K.
(1)The Secretary of State may direct a security provider to publish specified information about the protected assets.
(2)A direction under this section may specify—
(a)the time when the information must be published, and
(b)the manner of publication.
(3)If a security provider fails to comply with a direction, the Secretary of State, or a creditor of the security provider, may make an application to the court under this section.
(4)If, on an application under this section, the court decides that the security provider has failed to comply with the direction, it may order the security provider to take such steps as the court directs for securing that the direction is complied with.
(5)In this section—
“court”—
(a)in relation to an application in England and Wales or Northern Ireland, means the High Court, and
(b)in relation to an application in Scotland, means the Court of Session;
“security provider” means a person who has provided security in relation to which section 38A applies;
“the protected assets”, in relation to a security provider, means the security, and any property or rights in which it consists.]
Textual Amendments
F1Ss. 38A, 38B inserted (26.1.2009) by Energy Act 2008 (c. 32), ss. 74, 110(2); S.I. 2009/45, art. 2(b)(i)
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