{
  "url": "https://openlegislation.uk/water-industry-act-1991-amendment-order-2024/article-5",
  "json_url": "https://openlegislation.uk/water-industry-act-1991-amendment-order-2024/article-5.json",
  "legislation": "uksi/2024/204",
  "legislation_title": "The Water Industry Act 1991 (Amendment) Order 2024",
  "legislation_url": "https://openlegislation.uk/water-industry-act-1991-amendment-order-2024",
  "path": "article/5",
  "kind": "article",
  "number": "5",
  "heading": "Insertion of new paragraph 2A",
  "text": "After paragraph 2 insert—\n“Transfer schemes providing for transfer by hive down\n2A. (1) In a case specified in paragraph 1(3) (special administration order in relation to existing appointee), a scheme under this Schedule may provide for a transfer under section 23(2) that is effected by—\n(a) the transfer of property, rights and liabilities from the existing appointee to a new appointee that is a wholly-owned subsidiary of the existing appointee, and\n(b) the subsequent transfer of securities in the new appointee to another company.\n(2) In a case specified in paragraph 1(3A) (special administration order in relation to a qualifying licensee) where the transferor is a qualifying water supply licensee, a scheme under this Schedule may provide for a transfer under section 23(2A) that is effected by—\n(a) the transfer of property, rights and liabilities from the transferor to a transferee that is a wholly-owned subsidiary of the transferor, and\n(b) the subsequent transfer of securities in the transferee to another company.\n(3) In a case where a transfer is effected or proposed to be effected as described in sub-paragraph (1) or (2), paragraph 2 has effect as if—\n(a) in sub-paragraphs (1) and (3) of paragraph 2, the references to the consent of the new appointee were references to the consent of the new owner;\n(b) in sub-paragraph (4), the persons whose consent is required included the new owner;\n(c) in sub-paragraph (7), the persons subject to the duty imposed by that sub-paragraph included the new owner.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2024/204/article/5",
    "retrieved_at": "2026-10-28T21:34:19.777751+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."
}