Paragraph 13 Trustees: separate participation

(1)

Sub-paragraphs (2) and (3) apply where—

(a)

a public body or undertaking (“T”) is a trustee of a relevant trust; and

(b)

T is required to register as a participant, whether on its own or as a member of a group.

(2)

Sub-paragraph (3) applies where—

(a)

during or after the first year of a phase, T applies for registration as a separate participant in respect of any scheme activities of any relevant trust of which T is a trustee; and

(b)

the administrator is satisfied that the application has been duly made.

(3)

Where this sub-paragraph applies, the administrator must register T as a separate participant in respect of—

(a)

any scheme activities of any relevant trust of which T is the trustee; and

(b)

any other scheme activities of T.

(4)

In this paragraph, “relevant trust” means a trust where—

(a)

the assets of the trust include premises to which a supply of electricity or gas is made;

(b)

the trust is not managed by an operator;

(c)

no beneficiary of the trust is entitled to half or more of the assets of the trust; and

(d)

the trust carries on a scheme activity.