{
  "url": "https://openlegislation.uk/nuclear-energy-financing-act-2022/section-40",
  "json_url": "https://openlegislation.uk/nuclear-energy-financing-act-2022/section-40.json",
  "legislation": "ukpga/2022/15",
  "legislation_title": "Nuclear Energy (Financing) Act 2022",
  "legislation_url": "https://openlegislation.uk/nuclear-energy-financing-act-2022",
  "path": "section/40",
  "kind": "section",
  "number": "40",
  "heading": "Decommissioning of nuclear sites: bodies corporate not “associated”",
  "text": "(1) In section 67 of the Energy Act 2008 (meaning of “associated” for the purposes of Chapter 1 of Part 3 of that Act), after subsection (7) insert—\n“(8) This section is subject to section 67A.”\n(2) After section 67 of that Act insert—\n“Meaning of “associated”: supplementary\n67A (1) In determining whether, by virtue of section 67, A has a significant interest in B, the following are to be disregarded—\n(a) relevant share security rights that A holds in relation to B;\n(b) subject to subsection (4), shares in B that are acquired by A in consequence of the exercise of relevant share security rights that A holds in relation to B;\n(c) any power that A has, directly or indirectly, to secure that the affairs of B are conducted in accordance with A’s wishes by virtue of—\n(i) relevant share security rights that A holds in relation to B,\n(ii) arrangements that are designed to facilitate the exercise of relevant share security rights that A holds in relation to B, or\n(iii) relevant asset security rights that A holds in relation to B, if A also holds relevant share security rights in relation to B.\n(2) A holds “relevant share security rights” in relation to B if A holds—\n(a) rights to enforce a security interest over shares in B,\n(b) rights relating to enforcement of a security interest over shares in B, or\n(c) rights that enable A to preserve the value of a security interest over shares in B.\n(3) A holds “relevant asset security rights” in relation to B if A holds—\n(a) rights to enforce a security interest over any of B’s assets,\n(b) rights relating to enforcement of a security interest over any of B’s assets, or\n(c) rights that enable A to preserve the value of a security interest over any of B’s assets.\n(4) Subsection (1)(b) does not apply if the shares acquired by A are retained by A for a purpose other than that of preserving the value of the security interest in question or of realising it.\n(5) In this section—\n(a) a reference to “shares” includes a reference to rights attached to shares;\n(b) a reference to A holding rights in relation to B includes a reference to—\n(i) A holding those rights on trust for another person, and\n(ii) A being the beneficiary of a trust of those rights;\n(c) a reference to A acquiring shares in B includes a reference to—\n(i) A acquiring shares in B to hold on trust for another person, and\n(ii) another person acquiring shares in B to hold on trust for A;\n(d) a reference to rights includes a reference to powers.”",
  "extent": "E+W+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 40 in force at Royal Assent, see s. 44(1)(d)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2022/15/section/40",
    "retrieved_at": "2026-10-29T08:57:16.697663+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."
}