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Energy Act 2004
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- UK Public General Acts
- 2004 c. 20
- SCHEDULE 21
- Effect of scheme
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Energy Act 2004, Cross Heading: Effect of scheme is up to date with all changes known to be in force on or before 14 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Effect of schemeE+W+S
8(1)In relation to each provision of an energy transfer scheme for the transfer of property, rights or liabilities, or for the creation of interests, rights or liabilities—E+W+S
(a)this Act shall have effect so as, without further assurance, to vest the property or interests, or those rights or liabilities, in the transferee at the time appointed by the court for the purposes of paragraph 3(4); and
(b)the provisions of that scheme in relation to that property or those interests, or those rights or liabilities, shall have effect from that time.
(2)In this paragraph “the transferee”—
(a)in relation to property, rights or liabilities transferred by an energy transfer scheme, means the new energy company; and
(b)in relation to interests, rights or liabilities created by such a scheme, means the person in whose favour, or in relation to whom, they are created.
(3)In its application to Scotland, sub-paragraph (1) has effect with the omission of the words “without further assurance”.
Commencement Information
I1Sch. 21 para. 8 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1
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