Moved by
Lord Whitty
98: After Clause 15, insert the following new Clause—
“Retail exit
(1) The Secretary of State may by regulations make provision about the transfer of an undertaker’s assets and liabilities associated with its non-household retail business into a separate company.
(2) Regulations under this section are to be made by statutory instrument.
(3) Regulations under subsection (1) may, in particular, make provision for any such transfer to be subject to—
(a) approval by the Secretary of State;
(b) any such safeguards as may be specified in the regulations;
(c) the transferee company holding a licence containing a retail authorisation pursuant to section 17A of the Water Industry Act 1991;
(d) the provision of any information or other such assistance from the relevant undertaker as may be required by the Secretary of State for the purposes of approving the transfer.”