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80.—(1) The Secretary of State must, as soon as reasonably practicable after this regulation comes into force, appoint a person to be the Settlement Body.
(2) The Secretary of State may terminate the appointment of a person as Settlement Body.
(3) If the Secretary of State terminates the appointment of a person (“A”) as Settlement Body, the Secretary of State must—
(a)as soon as reasonably practicable, appoint another person (“B”) to that position; and
(b)make arrangements to ensure that any funds held by A under these Regulations are transferred to B.
(4) The Secretary of State must give notice to—
(a)each capacity provider;
(b)each electricity supplier; and
(c)the other administrative parties,
of an appointment, or the termination of an appointment, under paragraph (1), (2) or (3)(a).
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