Energy Act 2013
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Change 1
18 Application of sums held by a CFD counterparty
(1) Regulations may make provision for apportioning sums— (a) received by a CFD counterparty from electricity suppliers under provision made by virtue of section 9; (b) received by a CFD counterparty under a CFD, in circumstances where the CFD counterparty is unable fully to meet its liabilities under a CFD. (2) Provision made by virtue of subsection (1) may include provision about the meaning of “unable fully to meet its liabilities under a CFD”. (3) In making provision by virtue of subsection (1) the Secretary of State must have regard to the principle that sums should be apportioned in proportion to the amounts which are owed. (4) Regulations may make provision about the application of sums held by a CFD counterparty. (5) Provision made by virtue of subsection (4) may include provision that sums are to be paid, or not to be paid, into the Consolidated Fund.
18 Application of sums held by a CFD counterparty
(1) Regulations may make provision for apportioning sums— (a) received by a CFD counterparty from electricity suppliers under provision made by virtue of section 9; (b) received by a CFD counterparty under a CFD, in circumstances where the CFD counterparty is unable fully to meet its liabilities under a CFD. (2) Provision made by virtue of subsection (1) may include provision about the meaning of “unable fully to meet its liabilities under a CFD”. (3) In making provision by virtue of subsection (1) the Secretary of State must have regard to the principle that sums should be apportioned in proportion to the amounts which are owed. (4) Regulations may make provision about the application of sums held by a CFD counterparty. (5) Provision made by virtue of subsection (4) may include provision that sums are to be paid, or not to be paid, into the Consolidated Fund.
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