The Water Industry (Special Administration) Regulations 2024
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Change 1
18 Revision of special administrator’s proposals
Paragraph 54 has effect as if it were substituted with— 54. (1) The special administrator of a company may on one or more occasions revise the proposals included in the statement made under paragraph 49 in relation to the company. (2) If the special administrator thinks that a revision is substantial, they must send a copy of the revised proposals to— (a) the registrar of companies, (b) the relevant authority, (c) in the case of a qualifying water supply licensee whose licence gives it a supplementary authorisation, the Welsh Ministers, (d) the Water Services Regulation Authority, (e) every creditor of the company, other than an opted-out creditor, of whose claim and address the special administrator is aware, and (f) every member of the company of whose address the special administrator is aware. (3) A copy sent in accordance with sub-paragraph (2)— (a) must be sent within the prescribed period, and (b) must also, in the case of the copy under sub-paragraph (2)(f), be sent before the end of the period of five business days beginning with the day on which a copy is first sent to a creditor under sub-paragraph (2)(e). (4) The special administrator is to be taken to have complied with sub-paragraph (2)(f) if they publish, in the prescribed manner, a notice undertaking to provide a copy of the revised proposals free of charge to any member of the company who applies in writing to a specified address. (5) A special administrator who fails without reasonable excuse to comply with this paragraph commits an offence. .
18 Revision of special administrator’s proposals
Paragraph 54 has effect as if it were substituted with— 54. (1) The special administrator of a company may on one or more occasions revise the proposals included in the statement made under paragraph 49 in relation to the company. (2) If the special administrator thinks that a revision is substantial, they must send a copy of the revised proposals to— (a) the registrar of companies, (b) the relevant authority, (c) in the case of a qualifying water supply licensee whose licence gives it a supplementary authorisation, the Welsh Ministers, (d) the Water Services Regulation Authority, (e) every creditor of the company, other than an opted-out creditor, of whose claim and address the special administrator is aware, and (f) every member of the company of whose address the special administrator is aware. (3) A copy sent in accordance with sub-paragraph (2)— (a) must be sent within the prescribed period, and (b) must also, in the case of the copy under sub-paragraph (2)(f), be sent before the end of the period of five business days beginning with the day on which a copy is first sent to a creditor under sub-paragraph (2)(e). (4) The special administrator is to be taken to have complied with sub-paragraph (2)(f) if they publish, in the prescribed manner, a notice undertaking to provide a copy of the revised proposals free of charge to any member of the company who applies in writing to a specified address. (5) A special administrator who fails without reasonable excuse to comply with this paragraph commits an offence. .
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