Water Act 2014
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Change 1
45 Transfer of undertaking
(1) Exit regulations about the transfer of a part of a relevant undertaker's undertaking may include provision for the making of a scheme to transfer property, rights and liabilities where an exit application has been granted. (2) Exit regulations about the transfer of a part of a relevant undertaker's undertaking may include provision about arrangements under Chapter 1 of Part 5 of the Water Industry Act 1991 for fixing, demanding and recovering charges. (3) Provision under subsection (2) may include— (a) provision for and in connection with treating such arrangements as if they were agreements between the undertaker and the person liable to pay such charges; (b) provision about the terms and conditions of such agreements. (4) Exit regulations may make provision for a scheme under subsection (1) to contain— (a) provision identifying the property, rights and liabilities to be transferred (which may include property, rights and liabilities that would not otherwise be capable of being transferred); (b) provision for the division of property, rights and liabilities, including— (i) provision creating an interest in or right over property; (ii) provision creating new rights and liabilities; (iii) incidental provision as to the property, rights and liabilities of other persons; (c) provision about the consideration to be provided (and about the enforcement of such provision). (5) Subsection (4) is not exhaustive of what a scheme may contain.
45 Transfer of undertaking
(1) Exit regulations about the transfer of a part of a relevant undertaker's undertaking may include provision for the making of a scheme to transfer property, rights and liabilities where an exit application has been granted. (2) Exit regulations about the transfer of a part of a relevant undertaker's undertaking may include provision about arrangements under Chapter 1 of Part 5 of the Water Industry Act 1991 for fixing, demanding and recovering charges. (3) Provision under subsection (2) may include— (a) provision for and in connection with treating such arrangements as if they were agreements between the undertaker and the person liable to pay such charges; (b) provision about the terms and conditions of such agreements. (4) Exit regulations may make provision for a scheme under subsection (1) to contain— (a) provision identifying the property, rights and liabilities to be transferred (which may include property, rights and liabilities that would not otherwise be capable of being transferred); (b) provision for the division of property, rights and liabilities, including— (i) provision creating an interest in or right over property; (ii) provision creating new rights and liabilities; (iii) incidental provision as to the property, rights and liabilities of other persons; (c) provision about the consideration to be provided (and about the enforcement of such provision). (5) Subsection (4) is not exhaustive of what a scheme may contain.
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