# Energy Act 2004, Paragraph 32


(1) In sub-paragraph (1) of paragraph 111 (interpretation)—
(a) omit the definitions of “correspondence”, “holder of a qualifying floating charge”, “market value”, “the purpose of administration” and “unable to pay its debts”;
(b) after the definition of “administrator” (as amended by virtue of paragraph 4 of this Schedule) insert—
““appropriate value” means the best price which would be reasonably available on a sale which is consistent with the achievement of the objective of the energy administration;”
(c) for the definition of “company” substitute—
““company”, “court” and “energy administration order” have the same meanings as in Chapter 3 of Part 3 of the Energy Act 2004;”
(d) after the definition of “creditors' meeting” insert—
““energy administration application” means an application to the court for an energy administration order under Chapter 3 of Part 3 of the Energy Act 2004;
“GEMA” means the Gas and Electricity Markets Authority;”
(e) after the definition of “hire purchase agreement” insert—
““objective”, in relation to an energy administration, is to be construed in accordance with section 155 of the Energy Act 2004;
“prescribed” means prescribed by energy administration rules within the meaning of Chapter 3 of Part 3 of the Energy Act 2004;”.
(2) After sub-paragraph (3) of that paragraph insert—
“(4) For the purposes of this Schedule a reference to an energy administration order includes a reference to an appointment under paragraph 91 or 103.”

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Source: https://www.legislation.gov.uk/ukpga/2004/20/schedule/20/paragraph/32 (the official version)
Page: https://openlegislation.uk/energy-act-2004/schedule-20/paragraph-32
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.