Energy Act 2013

21 Regulations: further provision U.K.

(1) Regulations may make provision—

(a) to require a CFD counterparty to enter into arrangements or to offer to contract for purposes connected to a CFD;

(b) specifying things that a CFD counterparty may or must do, or things that a CFD counterparty may not do;

(c) conferring on the Secretary of State further powers to direct a CFD counterparty to do, or not to do, things specified in the regulations or the direction.

(2) Provision made by virtue of subsection (1)(b) or (c) includes provision requiring consultation with, or the consent of, the Secretary of State in relation to—

(a) the determination of an application for a modification agreement under section 15;

(b) the enforcement of obligations under a CFD;

(c) a variation or termination of a CFD;

(d) the settlement or compromise of a claim under a CFD;

(e) the conduct of legal proceedings relating to a CFD;

(f) the exercise of rights under a CFD.

(3) Regulations must include such provision as the Secretary of State considers necessary to ensure that a CFD counterparty can meet its liabilities under any CFD to which it is a party.