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(1)A person must not exercise a shareholder right or a right of appointment if—
(a)the right falls within subsection (2), (3), (4) or (5);
(b)the relevant date in respect of the certified person mentioned in that subsection has been reached;
(c)the exercise of the right would or might lead the certified person to discriminate in favour of the relevant producer or supplier mentioned in that subsection; and
(d)the relevant producer or supplier is a person to whom subsection (6) applies.
(2)A right falls within this subsection if—
(a)it is a shareholder right;
(b)it is held by a person who controls a person certified on the certification ground in section 8G(3); and
(c)it is exercisable in relation to a relevant producer or supplier.
(3)A right falls within this subsection if—
(a)it is a shareholder right;
(b)it is exercisable in relation to a person certified on the certification ground in section 8G(3); and
(c)it is held by a person who controls a relevant producer or supplier.
(4)A right falls within this subsection if—
(a)it is a shareholder right;
(b)the person who holds it appointed a senior officer of a person certified on the certification ground in section 8G(3);
(c)the person appointed continues to hold that office; and
(d)the right is exercisable in relation to a gas undertaking which is a relevant producer or supplier.
(5)A right falls within this subsection if—
(a)it is a right to appoint a senior officer of a person certified on the certification ground in section 8G(3); and
(b)the person who holds it has, within the immediately preceding period of 3 years, exercised a shareholder right in relation to a gas undertaking which is a relevant producer or supplier.
(6)This subsection applies to a person if, in order to carry out some or all of the activity by virtue of which the person is a relevant producer or supplier, the person—
(a)requires a licence under section 7A of this Act, section 6 of the Electricity Act 1989 (licences authorising supply, etc), or section 3 of the Petroleum Act 1998 (licences to search and bore for and get petroleum); or
(b)would require such a licence if carrying out the activity in Great Britain.
(7)In this section—
(a)“exercise” means exercise directly or indirectly, and “exercisable” is to be interpreted accordingly; and
(b)“relevant date” means the relevant date for the purposes of section 8C(1) or (2).]
Textual Amendments
F1Ss. 8C-8Q and cross-heading inserted (10.11.2011) by The Electricity and Gas (Internal Markets) Regulations 2011 (S.I. 2011/2704), regs. 1(1), 4
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