Varied investment contract
2(1)An investment contract is a “varied investment contract” for the purposes of this paragraph if the variation—
(a)is agreed at any time before or after this Schedule comes into force, and
(b)will, in the opinion of the Secretary of State, materially increase the likely cost to consumers of electricity.
(2)A varied investment contract is an “investment contract” for the purposes of this Schedule only if it is laid before Parliament (at any time after the introduction into Parliament of the Bill that becomes this Act)—
(a)with a statement of why, having regard to the likely cost to consumers of electricity, the Secretary of State believes that the variation is appropriate, and
(b)after the Secretary of State has excluded from it any confidential information (see paragraph 3).
(3)The Secretary of State must publish a varied investment contract in the form in which it was laid before Parliament as soon as reasonably practicable after it is laid.
(4)This paragraph does not apply in respect of a variation which is made in accordance with the terms of an investment contract.