Energy Act 2004

40 Transfers with the consent of the transferor U.K.

(1) A nuclear transfer scheme may provide for a transfer to—

(a) a publicly owned company, or

(b) the NDA,

of property, rights and liabilities falling within subsection (3) that are set out in the scheme.

(2) But property, rights and liabilities may be transferred by virtue of this section only if the person who is entitled or subject to them has consented to their transfer in accordance with a nuclear transfer scheme.

(3) The property, rights and liabilities that may be transferred are—

(a) securities of a nuclear company that is not publicly owned;

(b) property and rights of such a company in or in relation to a nuclear site or an installation in or on such a site; or

(c) property, rights and liabilities to which such a company is entitled or subject—

(i) in respect of such a site or installation;

(ii) in connection with or by reference to activities carried on in or on such a site or installation; or

(iii) for purposes connected with that site or installation or with any such activities.

(4) In subsection (3) references to the property, rights and liabilities of a company, or to which a company is entitled or subject, include references to the property, rights and liabilities of any of its wholly-owned subsidiaries.

Commencement Information

I1 S. 40 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1