{
  "url": "https://openlegislation.uk/energy-administration-rules-2005/article-54",
  "json_url": "https://openlegislation.uk/energy-administration-rules-2005/article-54.json",
  "legislation": "uksi/2005/2483",
  "legislation_title": "The Energy Administration Rules 2005",
  "legislation_url": "https://openlegislation.uk/energy-administration-rules-2005",
  "path": "article/54",
  "kind": "article",
  "number": "54",
  "heading": "Debt in foreign currency",
  "text": "(1) For the purpose of proving a debt incurred or payable in a currency other than sterling, the amount of the debt shall be converted into sterling at the official exchange rate prevailing on the date when the protected energy company entered energy administration.\n(2) “The official exchange rate” is the middle exchange rate on the London Foreign Exchange Market at the close of business, as published for the date in question. In the absence of any such published rate, it is such rate as the court determines.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Rule 54 in force at 1.10.2005, see rule 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2005/2483/article/54",
    "retrieved_at": "2026-10-29T04:52:53.544569+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}