296 Generation acquired and supplied by significant minority shareholders
Finance (No 2) Act 2023 (2023 c 30) | Legislation

296  Generation acquired and supplied by significant minority shareholders

(1)     Subsection (3) applies to generation if—

(a)     a subsidiary member (“A”) of a generating undertaking that is a group (“U”) has a significant minority shareholder that is a company or group,

(b)     the generation is generation by a relevant generating station operated by A or a relevant subsidiary of A (see section 290(6)),

(c)     the generation is supplied, directly or indirectly, to a significant minority shareholder (“M”) in A that is a company or a group, and

(d)     the generation is subsequently the subject of a wholesale purchase of electricity from M.

(2)     Where the generation falls within section 282(3)(b) (generation expected to be generated which was not generated), reference in subsection (1) to supply or purchase is to any supply or purchase that was expected in consequence of that generation having occurred.

(3)     Where this subsection applies to generation—

(a)     the generation is to be attributed

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