Infrastructure Act 2015

Total value of the offer

10 (1) Right to buy regulations must require the offer to consist of stakes whose combined price is—

(a) equal to, or

(b) greater than,

the minimum amount described in the regulations.

(2) That minimum amount must be expressed as a percentage of the total capital costs of development of a qualifying facility.

(3) That percentage must not exceed 5%.

(4) The regulations may make provision about—

(a) the kinds of costs that are capital costs of development of a qualifying facility;

(b) calculation of the total capital costs of development of a qualifying facility.

(5) The provision about calculation of the total capital costs may provide for the total—

(a) to be calculated by reference to a period ending after the time of the calculation (including a period ending with commissioning of the facility);

(b) to include costs which have not been incurred at the time of the calculation;

(c) to include estimated costs.

(6) In this paragraph—

• “combined price”, in relation to the stakes offered through the right to buy, means the total which the amounts to be paid for all of those stakes will add up to (assuming those stakes are all bought);

• “offer” means the offer of stakes in a qualifying facility through the right to buy.