SCHEDULE 7 Finances and Accounts of Transferee Companies
Energy Act 2004 (2004 c 20) | Legislation

SCHEDULE 7 Finances and Accounts of Transferee Companies

Section 45

Interpretation of Schedule

1

(1)     In this Schedule—

“designated BNFL company†means a company designated for the purposes of this Schedule by an order made by the Secretary of State;

“transferee company†means a body corporate which is—

(a)     a body corporate to which a transfer has been made in accordance with a nuclear transfer scheme; but

(b)     not a subsidiary of the UKAEA;

“transferorâ€, in relation to a transfer scheme, means the person from whom property, rights and liabilities are transferred to a transferee company in accordance with the scheme.

(2)     The Secretary of State may designate a company for the purposes of this Schedule as a designated BNFL company only if, without being a subsidiary of the UKAEA, it is a publicly controlled company to which—

(a)     securities of BNFL or of a designated BNFL company,

(b)     property, rights or liabilities of BNFL or of a designated BNFL company, or

(c)     property, rights or liabilities of a wholly-owned subsidiary of BNFL or of a designated BNFL company,

were transferred (whether in accordance with a nuclear transfer scheme or otherwise) at

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