Further conditions in respect of NDA company which is a relevant site licensee
3.—(1) The further conditions referred to in section 27(5)(d) (conditions in respect of NDA company which is a relevant site licensee) are those in paragraphs (2) and (3).
(2) The condition is that all the ordinary share capital of the company must have been transferred from the NDA or a wholly owned subsidiary of the NDA (“the original transfer”).
(3) The condition is that where—
(a)a management contract is in force—
(i)which relates to the whole or part of the site, or to an installation or facility in or on that site, for which a nuclear site licence is in force; and
(ii)which is made between the NDA and the company, or between the NDA and a company which owns, directly or indirectly, at least 90 per cent of the ordinary share capital of the company; or
(b)the company has control of a designated installation, site or facility and directions have been given to the company under section 18(3) in respect of that installation, site or facility;
the company’s memorandum and articles must be such as to secure that the restrictions imposed by paragraphs (4) and (5) will always be met.
(4) The company may not declare dividends on its shares.
(5) A transfer of the company’s shares—
(a)may only be made to the NDA; or a wholly owned subsidiary of the NDA,
(b)must comprise the whole of the company’s share capital, and
(c)must be for a consideration which is no greater than that given for the original transfer.
(6) For the purposes of paragraph (5)(c) where consideration is given for share capital and for something else besides, a just and reasonable apportionment shall be made between the amount given for the share capital and the amount given for the other thing.