Paragraph 17 Public-private partnership project companiesF1

(1)

For the purposes of paragraph 15 a project has “step-in rights” if a person who provides finance in connection with the project has a conditional entitlement under an agreement to—

(a)

assume sole or principal responsibility under an agreement for carrying out all or part of the project, or

(b)

make arrangements for carrying out all or part of the project.

(2)

In sub-paragraph (1) a reference to the provision of finance includes a reference to the provision of an indemnity.

Annotations

Textual amendments

F1: Sch. ZA1 inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 1 (with ss. 2(2), 5(2), 12)

Notes on Schedule ZA1

Modifications

C1: Sch. ZA1 modified (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 4 para. 6(1)(c) (with ss. 2(2), 5(2), Sch. 4 para. 1)
C2: Sch. ZA1 modified (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 4 para. 7(b) (with ss. 2(2), 5(2), Sch. 4 para. 1)