PART II U.K. REORGANISATION OF THE INDUSTRY

Modifications etc. (not altering text)

C1Pt. II (ss. 65-95) extended (15.12.2001) by S.I. 2001/4011, art. 12(1)(a)

SupplementalU.K.

95 Other interpretation of Part II.U.K.

(1)In this Part, unless the context otherwise requires—

  • “the appropriate successor company”, in relation to an existing body, has the meaning given by section 88(4) above;

  • “debentures” includes debenture stock;

  • “existing body” has the meaning given by section 84(1) above;

  • “generating company” means a company designated as such by the Secretary of State;

  • “operating company” has the meaning given by section 74(10) above;

  • “securities”, in relation to a company, includes shares, debentures, bonds and other securities of the company, whether or not constituting a charge on the assets of the company;

  • “shares” includes stock;

  • “Scottish electricity company” means a company designated as such by the Secretary of State;

  • “Scottish nuclear company” means the company designated as such by the Secretary of State;

  • “successor company” has the meaning given by section 71(1) above;

  • “supply company” has the meaning given by section 65(5) above;

  • “the transfer date”—

    (a)

    in relation to any transfer effected by subsection (1) of section 65 or subsection (5) of section 66 above, has the meaning given by the said subsection (1);

    (b)

    in relation to any transfer effected by subsection (4) of section 67 above, has the meaning given by subsection (3) of that section;

  • “transferee” and “transferor”, in relation to any transfer of property, rights and liabilities effected or proposed to be effected under this Part, mean respectively the person to whom and the person from whom they are or are to be so transferred;

  • “transfer scheme” has the meaning given by section 69(1) above;

  • “transitional period”, in relation to an existing body, has the meaning given by section 84(2) above;

  • “transmission company” means the company designated as such by the Secretary of State.

(2)A company shall be regarded for the purposes of this Part as wholly owned by the Crown at any time when none of the issued shares in the company is held otherwise than—

(a)by, or by a nominee of, the Treasury or the Secretary of State; or

(b)by a company which is itself wholly owned by the Crown.