# Energy Act 2004, Paragraph 1

Extent: E+W+S+N.I.

(1) In this Schedule—
“designated BNFL company” means a company designated for the purposes of this Schedule by an order made by the Secretary of State;
“transferee company” means a body corporate which is—
(a)a body corporate to which a transfer has been made in accordance with a nuclear transfer scheme; but
(b)not a subsidiary of the UKAEA;
“transferor”, in relation to a transfer scheme, means the person from whom property, rights and liabilities are transferred to a transferee company in accordance with the scheme.
(2) The Secretary of State may designate a company for the purposes of this Schedule as a designated BNFL company only if, without being a subsidiary of the UKAEA, it is a publicly controlled company to which—
(a) securities of BNFL or of a designated BNFL company,
(b) property, rights or liabilities of BNFL or of a designated BNFL company, or
(c) property, rights or liabilities of a wholly-owned subsidiary of BNFL or of a designated BNFL company,
were transferred (whether in accordance with a nuclear transfer scheme or otherwise) at a time when both the person from whom they were transferred and the company to which they were transferred were publicly controlled.
(3) For the purposes of this Schedule a body corporate is wholly-owned by the Crown if it is a company limited by shares each of which is held on behalf of the Crown.
(4) A share in a company is held on behalf of the Crown if, and only if, it is held by—
(a) the Treasury;
(b) a Minister of the Crown;
(c) another company which is wholly-owned by the Crown; or
(d) a nominee of a person falling within paragraphs (a) to (c).
(5) An order designating a company for the purposes of this Schedule must be laid before Parliament.
(6) References in this Schedule to a nuclear transfer scheme include references to any modification agreement (within the meaning of Schedule 5) relating to that scheme.
(7) In this paragraph “company” means a company as defined in section 1(1) of the Companies Act 2006.

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Source: https://www.legislation.gov.uk/ukpga/2004/20/schedule/7/paragraph/1 (the official version)
Page: https://openlegislation.uk/energy-act-2004/schedule-7/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.