2.—(1) An application for the making of a property arrangements scheme may be made by—N.I.
(a)the system operator,
(b)the relevant existing transmission licence holder, or
(c)by both jointly.
(2) No application for a property arrangements scheme may be made after the end of the period of three months beginning with the day on which Article 5 comes into operation.
(3) An application for a property arrangements scheme shall specify the property, rights or liabilities in relation to which provision of a kind mentioned in paragraph 1(1) is proposed to be included in the scheme.