Part 4 Transfers
Energy Act 2013 (2013 c 32) | Legislation

Part 4 Transfers

Transfers

16

(1)     The Secretary of State may make one or more schemes for the transfer of designated property, or designated rights or liabilities under an investment contract—

(a)     from the Secretary of State (“the transferorâ€) to a CFD counterparty (“the transfereeâ€);

(b)     from the Secretary of State (“the transferorâ€) to an investment contract counterparty (“the transfereeâ€);

(c)     from an investment contract counterparty (“the transferorâ€) to a CFD counterparty (“the transfereeâ€);

(d)     from a person who has ceased to be an investment contract counterparty (“the transferorâ€) to a person who is an investment contract counterparty (“the transfereeâ€).

(2)     If a scheme provides for a CFD counterparty to be the transferee, regulations may provide for the investment contract to be treated to any extent as a CFD for the purposes of provision made by or by virtue of Chapter 2 of Part 2 of this Act.

(3)     Sub-paragraph (4) applies from the beginning of the first day on which all of the following three conditions are met, namely—

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