Energy Act 2004

1 (1) In this Schedule— U.K.

• “designated BNFL company” means a company designated for the purposes of this Schedule by an order made by the Secretary of State;

• “transferee company” means a body corporate which is—

  (a)

  a body corporate to which a transfer has been made in accordance with a nuclear transfer scheme; but

  (b)

  not a subsidiary of the UKAEA;

• “transferor”, in relation to a transfer scheme, means the person from whom property, rights and liabilities are transferred to a transferee company in accordance with the scheme.

(2) The Secretary of State may designate a company for the purposes of this Schedule as a designated BNFL company only if, without being a subsidiary of the UKAEA, it is a publicly controlled company to which—

(a) securities of BNFL or of a designated BNFL company,

(b) property, rights or liabilities of BNFL or of a designated BNFL company, or

(c) property, rights or liabilities of a wholly-owned subsidiary of BNFL or of a designated BNFL company,

were transferred (whether in accordance with a nuclear transfer scheme or otherwise) at a time when both the person from whom they were transferred and the company to which they were transferred were publicly controlled.

(3) For the purposes of this Schedule a body corporate is wholly-owned by the Crown if it is a company limited by shares each of which is held on behalf of the Crown.

(4) A share in a company is held on behalf of the Crown if, and only if, it is held by—

(a) the Treasury;

(b) a Minister of the Crown;

(c) another company which is wholly-owned by the Crown; or

(d) a nominee of a person falling within paragraphs (a) to (c).

(5) An order designating a company for the purposes of this Schedule must be laid before Parliament.

(6) References in this Schedule to a nuclear transfer scheme include references to any modification agreement (within the meaning of Schedule 5) relating to that scheme.

(7) In this paragraph “company” has the same meaning as in the Companies Act 1985 (c. 6).

Commencement Information

I1 Sch. 7 para. 1 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1