# Water Industry Act 1991, Paragraph 2A


(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—
(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
(b) the subsequent transfer of securities in the new appointee to another company.
(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—
(a) the transfer of property, rights and liabilities from the transferor to a transferee that is a wholly-owned subsidiary of the transferor, and
(b) the subsequent transfer of securities in the transferee to another company.
(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—
(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;
(b) in sub-paragraph (4), the persons whose consent is required included the new owner;
(c) in sub-paragraph (7), the persons subject to the duty imposed by that sub-paragraph included the new owner.

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Source: https://www.legislation.gov.uk/ukpga/1991/56/schedule/2/paragraph/2A (the official version)
Page: https://openlegislation.uk/water-industry-act-1991/schedule-2/paragraph-2A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.