17Effect of transfer of electricity generator assets between public sector agencies

#### 17 Effect of transfer of electricity generator assets between public sector agencies 17 Effect of transfer of electricity generator assets between public sector agencies > > (1) When the business of an electricity generator is transferred to another public sector agency for the purposes of an authorised transaction— > > > > > (a) the public sector agency becomes the new operator of the business and that business is to be conducted as the electricity business of the new operator, and > > > > > (b) the new operator is deemed to be an electricity generator for the purposes of this Act in respect of the business that comprises its electricity business as conducted by the new operator from time to time, but only while the new operator is a public sector agency and not in respect of any other business of the new operator, and > > > > > (c) the new operator has and may exercise all such functions as may be necessary or convenient for the purpose of the carrying on of its electricity business, and > > > > > (d) the new operator has the benefit of any relevant operating licence for the purpose of the carrying on of its electricity business, and > > > > > (e) a public sector agency responsible for the issue of any such relevant operating licence must, at the request of the new operator, re-issue the licence in the name of the new operator and subject to terms, conditions and endorsements that are the same (or to substantially the same effect) as those to which it was subject before its re-issue. > > > (2) If the business comprising the electricity business of the new operator is transferred to another public sector agency, this section also operates in respect of that transfer (and any further transfer for the purposes of an authorised transaction). > > > (3) This section applies to the transfer of part of, or an interest in, a business in the same way as it applies to a transfer of the whole business. > > > (4) In this section— > > > > relevant operating licence, in relation to a transferred business of an electricity generator, means any licence, permit, entitlement, accreditation or other authority that was held by the electricity generator before the transfer and that is necessary or convenient for the carrying on of any aspect of the electricity business of the new operator.