http://www.legislation.gov.uk/ukpga/2011/16/section/95/2012-03-21Energy Act 2011An Act to make provision for the arrangement and financing of energy efficiency improvements to be made to properties by owners and occupiers; about the energy efficiency of properties in the private rented sector; about the promotion by energy companies of reductions in carbon emissions and home-heating costs; about information relating to energy consumption, efficiency and tariffs; for increasing the security of energy supplies; about access to upstream petroleum infrastructure and downstream gas processing facilities; about a special administration regime for energy supply companies; about designations under the Continental Shelf Act 1964; about licence modifications relating to offshore transmission and distribution of electricity; about the security of nuclear construction sites; about the decommissioning of nuclear sites and offshore infrastructure; for the use of pipelines for carbon capture and storage; for an annual report on contribution to carbon emissions reduction targets; for action relating to the energy efficiency of residential accommodation in England; for the generation of electricity from renewable sources; about renewable heat incentives in Northern Ireland; about the powers of the Coal Authority; for an amendment of section 137 of the Energy Act 2004; for the amendment and repeal of measures relating to home energy efficiency; and for connected purposes.texttext/xmlenStatute Law Database2022-12-16Expert Participation2012-03-21 Part 2 CHAPTER 5951The objective of an energy supply company administration is to secure—athat energy supplies are continued at the lowest cost which it is reasonably practicable to incur; andbthat it becomes unnecessary, by one or both of the following means, for the esc administration order to remain in force for that purpose.2Those means are—athe rescue as a going concern of the company subject to the esc administration order; andbtransfers falling within subsection (3).3A transfer falls within this subsection if it is a transfer as a going concern—ato another company, orbas respects different parts of the undertaking of the company subject to the esc administration order, to two or more different companies,of so much of that undertaking as it is appropriate to transfer for the purpose of achieving the objective of the energy supply company administration.4The means by which transfers falling within subsection (3) may be effected include, in particular—aa transfer of the undertaking of the company subject to the esc administration order, or of a part of its undertaking, to a wholly-owned subsidiary of that company; andba transfer to a company of securities of a wholly-owned subsidiary to which there has been a transfer falling within paragraph (a).5The objective of an energy supply company administration may be achieved by transfers falling within subsection (3) to the extent only that—athe rescue as a going concern of the company subject to the esc administration order is not reasonably practicable or is not reasonably practicable without such transfers;bthe rescue of that company as a going concern will not achieve that objective or will not do so without such transfers;csuch transfers would produce a result for the company's creditors as a whole that is better than the result that would be produced without them; ordsuch transfers would, without prejudicing the interests of those creditors as a whole, produce a result for the company's members as a whole that is better than the result that would be produced without them.