Point in time view as at 01/03/2005.
Energy Act 2004, Section 43 is up to date with all changes known to be in force on or before 03 March 2025. 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.
(1)This section applies where—
(a)the Secretary of State has given an undertaking to a publicly owned company to make payments to that company or a subsidiary of that company; and
(b)it appears to him that (apart from section 21(8)) the financial responsibilities of the NDA under Chapter 1 of this Part would make it unnecessary for those amounts to be paid.
(2)The Secretary of State may extinguish the undertaking, and every liability of his that has arisen under the undertaking, with effect from such date as he may notify to the other parties to it.
(3)Nothing in this section authorises the extinguishment of an undertaking at a time when the company to whom payments would fall to be made under the undertaking is not publicly owned.
(4)The extinguishment of an undertaking under this section shall neither require nor enable any sum to be brought into account in any person’s case for the purposes of corporation tax.
(5)In this section “undertaking” includes any agreement in which an undertaking to make payments is contained.
Commencement Information
I1S. 43 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1
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