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PART 3
Transfer of Energy Business to Energy Company
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BGÉ to prepare transfer plan in relation to energy company
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21. (1) As soon as practicable after the commencement of this section, BGÉ shall prepare and submit to the Minister for approval one, or more than one, plan (in this Act referred to as a “transfer plan”) for the transfer to one, or more than one, subsidiary of BGÉ (in this Act referred to as an “energy company”) of such—
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(a) assets, licences, rights and liabilities, and
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(b) staff,
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of BGÉ and its subsidiaries as appear to BGÉ to be necessary for, or ancillary to, the purposes of the transfer to that company or companies of all, or a part, of the energy business.
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(2) BGÉ shall specify in a transfer plan the items referred to in subsection (1) that are to be transferred by reference to —
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(a) individual assets, licences, rights and liabilities or staff,
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(b) all or any of the assets, licences, rights and liabilities and staff (whether or not subject to exceptions) relating to a specified function, business activity, division or part of BGÉ,
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(c) all or any of the assets, licences, right and liabilities and staff (whether or not subject to exceptions) of, or relating to a specified function or business activity of, one or more than one subsidiary of BGÉ, or
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(d) a combination of the matters referred to in the foregoing paragraphs.
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(3) A transfer plan may provide for such supplemental, incidental and consequential matters as are necessary for, or ancillary to, the transfer to an energy company of the matters mentioned in paragraphs (a) and (b) of subsection (1)(including the order in which any transfers are to be regarded as taking effect).
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