Part 1

The Civil Nuclear Industry
Chapter 2

Transfers relating to nuclear undertakings

Transfer by scheme of property etc.

Nuclear transfer schemes
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1
The Secretary of State may make a scheme providing for one or more transfers authorised by this Chapter (a “nuclear transfer scheme”).
2
Nothing in this Chapter authorises the transfer in accordance with a nuclear transfer scheme of a nuclear site licence.
3
Before making—
a
a nuclear transfer scheme which transfers property, rights or liabilities to or from the NDA or a subsidiary of the NDA, or
b
a nuclear transfer scheme not falling within paragraph (a) which he is proposing to make for purposes connected with the carrying out of the NDA’s functions,
the Secretary of State must consult the NDA.
4
Before making a nuclear transfer scheme which transfers property, rights or liabilities to any person—
a
from BNFL, or
b
from a wholly-owned subsidiary of BNFL,
the Secretary of State must consult BNFL.
5
Before making a nuclear transfer scheme that transfers property, rights or liabilities to any person—
a
from the UKAEA, or
b
from a wholly-owned subsidiary of the UKAEA,
the Secretary of State must consult the UKAEA.
6
The consent of the Treasury is required for the making of a nuclear transfer scheme.
7
A nuclear transfer scheme shall come into force at such time as the Secretary of State may appoint, whether in the scheme or subsequently.
8
Schedule 5 (which makes further provision about nuclear transfer schemes) has effect.
S. 38 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1