29 Disregard for tax purposes of cancellation etc of provisions
Energy Act 2004 (2004 c 20) | Legislation

29  Disregard for tax purposes of cancellation etc of provisions

(1)     This section applies where—

(a)     a relevant provision is recognised in the accounts of a [BNFL company] in accordance with generally accepted accounting practice;

[(b)     that provision—

(i)     relates to decommissioning or cleaning-up which the NDA acquires or has acquired responsibility for securing by virtue of a direction under section 3, but

(ii)     is not provision recognised in order to reflect the terms or effect of a management contract between the company and the NDA; and

(c)     the responsibility referred to in paragraph (b)(i)—

(i)     includes the financial responsibility under section 21, or

(ii)     would do so but for the fact that the amount of the financial responsibility is for the time being subject to a limit imposed by a capping agreement].

(2)

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