PART 2Registration as a participant
CHAPTER 5Trustees
Trustees: separate participation29
1
This article applies where—
a
a public body or undertaking (“T”) is a trustee of a relevant trust; and
b
T is required to register as a participant, whether on its own or as a member of a group.
2
T may apply for registration as a separate participant in respect of any scheme activities of any relevant trust of which T is a trustee.
3
Where—
a
T is registered as a participant in respect the scheme activities of a relevant trust; and
b
T would otherwise be part of a group which is a participant for the relevant phase,
T is not to be regarded as part of that group for the phase in respect of the scheme activities of the relevant trust.
4
In this article, “relevant trust” means a trust where—
a
the assets of the trust include premises to which a supply of electricity or gas is made;
b
the trust is not managed by an operator;
c
no beneficiary of the trust is entitled to half or more of the assets of the trust; and
d
the trust carries on scheme activities.