SCHEDULES
SCHEDULE 2Investment contracts
PART 2Regulations: general
Application of sums
9
1
Regulations may make provision for apportioning sums—
a
received by the Secretary of State, an investment contract counterparty or a CFD counterparty from electricity suppliers under provision made by virtue of paragraph 7;
b
received by the Secretary of State, an investment contract counterparty or a CFD counterparty under an investment contract,
c
received by a CFD counterparty from electricity suppliers under provision made by virtue of section 9;
d
received by a CFD counterparty under a CFD,
in circumstances where the Secretary of State, an investment contract counterparty or a CFD counterparty is unable fully to meet liabilities under an investment contract or a CFD.
2
Provision made by virtue of sub-paragraph (1) may include provision about the meaning of “unable fully to meet liabilities under an investment contract or a CFD”.
3
In making provision by virtue of sub-paragraph (1) the Secretary of State must have regard to the principle that sums should be apportioned in proportion to the amounts which are owed.
4
Regulations may make provision about the application of sums held by the Secretary of State, an investment contract counterparty or a CFD counterparty.
5
Provision made by virtue of sub-paragraph (4) may include provision that sums are to be paid, or not to be paid, into the Consolidated Fund.