C1 Part I Gas Supply
F1Gas transmission and the operation of gas interconnectors: independence
Ss. 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
8OProhibition on the exercise of certain shareholder rights and rights of appointment
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).
Pt. I: definition of "public gas supplier" applied (E.W.) (1.12.1991) by Water Resources Act 1991 (c. 57, SIF 130), ss. 208(3)(b), 225(2) (with ss. 16(6), 179, 222(3), Sch. 22 para. 1, Sch. 23 para. 6)
Pt. I: definition of "public gas supplier" applied (E.W.) (1.12.1991) by Water Resources Act 1991 (c. 57, SIF 130), ss. 178, 225(2), Sch. 22 para. 1(4)(e) (with ss. 16(6), 179, 222(3), Sch. 22 para. 1, Sch. 23 para. 6)
Pt. I applied (1.3.1996) by 1995 c. 45, s. 6(7); S.I. 1996/218, art. 2
Pt. I applied (1.3.1996) by 1995 c. 45, s. 16(1), Sch. 4 para. 1; S.I. 1996/218, art. 2