Schedule 18 | Property Arrangements Schemes | Energy Act 2004 C20

SCHEDULE 18 Property Arrangements Schemes

Energy Act 2004 (2004 c 20) | Legislation

SCHEDULE 18 Property Arrangements Schemes

Section 141 Scheme-making power

(1) GEMA may, on application, make a scheme providing for—

(a) the transfer to the system operator of, or

(b) the creation in favour of the system operator of any rights in relation to,

property, rights or liabilities of an existing transmission licence holder.

(2) A scheme under sub-paragraph (1) (“a property arrangements scheme”) may also contain—

(a) provision for the creation, in relation to property which the scheme transfers, of an interest in or right over the property in favour of the relevant existing transmission licence holder;

(b) provision for the creation of any rights or liabilities as between the relevant existing transmission licence holder and the system operator;

(c) provision for imposing on the relevant existing transmission licence holder or the system operator an obligation to enter into a written agreement with, or to execute an instrument of another kind in favour of, the other;

(d) supplemental, incidental and consequential provision.

(3) The property, rights or liabilities which may be transferred by a property arrangements scheme include property, rights or liabilities which would not otherwise be capable of being transferred.

(4) If a property arrangements