85Application for liability transfer certificate

85 Application for liability transfer certificate

Scope (1) This section applies if a person passes the financial control transfer test in relation to a facility. Application (2) The person may apply to the Regulator for the issue to the person of a liability transfer certificate in relation to the facility. (3) The person is not entitled to make an application unless the person has the written consent of: (a) if the person who has operational control over the facility: (i) is a member of a controlling corporation’s group; and (ii) is not the controlling corporation; the controlling corporation; or (b) otherwise—the person who has operational control over the facility. (4) If the person: (a) is a member of a controlling corporation’s group; and (b) is not the controlling corporation of the group; the person is not entitled to make an application unless the person has the written consent of the controlling corporation of the group. Form of application (5) An application must: (a) be in writing; and (b) be in a form approved, in writing, by the Regulator; and (c) be accompanied by: (i) if paragraph (3)(a) applies—the consent of the controlling corporation mentioned in paragraph (3)(a) to the making of the application; and (ii) if paragraph (3)(b) applies—the consent of the person mentioned in paragraph (3)(b) to the making of the application; and (iii) if subsection (4) applies—the consent of the controlling corporation mentioned in subsection (4) to the making of the application; and (iv) such information as is specified in the regulations; and (v) such documents (if any) as are specified in the regulations. (6) The approved form of application may provide for verification by statutory declaration of statements in applications.