4(1)This paragraph amends sections 153 and 154 of the Water Industry Act 1991 (government financial assistance where special administration order made).E+W
(2)For section 153(1)(b) substitute—
“(b)offer indemnities in respect of liabilities or loss incurred or sustained in the course of functions under the order.”
(3)After section 153(1) insert—
“(1A)An indemnity under subsection (1)(b) may be offered to—
(a)the special administrator,
(b)an employee of the special administrator,
(c)a member or employee of a firm of which the special administrator is or was a member or employee (or a successor of that firm),
(d)a body corporate of which the special administrator is or was an employee, or
(e)an officer, employee or member of a body corporate within paragraph (d).”
(4)In section 153(3) for “by Schedule 3 to this Act” substitute “ by or under section 23 ”.
(5)After section 153(3) insert—
“(3A)Arrangements for a grant, loan or indemnity which are made while a special administration order is in force may continue to have effect after the order ceases to have effect.”
(6)In section 154(2) for “Immediately” substitute “ As soon as is reasonably practicable ”.
(7)In section 154(3) for “possible” substitute “ is reasonably practicable ”.
(8)In section 154(5) for “by Schedule 3 to this Act” substitute “ by or under section 23 ”.
(9)This paragraph has effect in respect of special administration orders made whether before or after this section comes into force.
Commencement Information
I1Sch. 5 para. 4 in force at 1.4.2011 by S.I. 2011/694, art. 3(j)