Regulation 80 Appointment of Settlement Body

(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).