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Energy Act 2013

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Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).

Application of sums

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9(1)Regulations may make provision for apportioning sums—

(a)received by the Secretary of State, an investment contract counterparty or a CFD counterparty from electricity suppliers under provision made by virtue of paragraph 7;

(b)received by the Secretary of State, an investment contract counterparty or a CFD counterparty under an investment contract,

(c)received by a CFD counterparty from electricity suppliers under provision made by virtue of section 9;

(d)received by a CFD counterparty under a CFD,

in circumstances where the Secretary of State, an investment contract counterparty or a CFD counterparty is unable fully to meet liabilities under an investment contract or a CFD.

(2)Provision made by virtue of sub-paragraph (1) may include provision about the meaning of “unable fully to meet liabilities under an investment contract or a CFD”.

(3)In making provision by virtue of sub-paragraph (1) the Secretary of State must have regard to the principle that sums should be apportioned in proportion to the amounts which are owed.

(4)Regulations may make provision about the application of sums held by the Secretary of State, an investment contract counterparty or a CFD counterparty.

(5)Provision made by virtue of sub-paragraph (4) may include provision that sums are to be paid, or not to be paid, into the Consolidated Fund.

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