Paragraph 2 InterpretationI1

In this Part—

• “acceptable insurance” means third party liability insurance effected and maintained by the undertaker with a limit of indemnity of not less than £10 millions per occurrence or series of occurrences arising out of a single event arranged with underwriters whose security or credit rating is not lower than—

  1. (a)

     A-, if the rating is assigned by Standard & Poor’s Ratings Group; or

  2. (b)

     A3, if the rating is assigned by Moody’s Investors Services Inc.;

• “alternative apparatus” means appropriate alternative apparatus to the satisfaction of National Grid to enable it to fulfil its statutory functions in a manner no less efficient than previously;

• “apparatus” means electric lines or electrical plant as defined in the Electricity Act 1989, belonging to or maintained by National Grid;

• “authorised development” includes the use and maintenance of the authorised development;

• “commence” and “commencement” have the meaning given in paragraph 1 of Schedule 2 (Requirements);

• “functions” includes powers and duties;

• “in”, in a context referring to apparatus or alternative apparatus in land, includes a reference to apparatus or alternative apparatus under, over, across, along or on land;

• “maintain” and “maintenance”, in relation to any apparatus or alternative apparatus of National Grid, include the ability and right to construct, use, repair, alter, inspect, renew and remove;

• “National Grid” means National Grid Electricity Transmission plc^f1 (company number 2366977);

• “plans” includes designs, drawings, specifications, method statements, soil reports, programmes, calculations, risk assessments and other documents that are reasonably necessary properly and sufficiently to describe and assess the works to be executed;

• “specified work” means so much the authorised development that will or may be situated within 15 metres (measured in any direction) of, or that may affect, any apparatus.