Electricity Act 2001 · 2020 Revised Edition · Part 11 · Miscellaneous
94A. Effect of winding up
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This section applies where a winding up order has been made or a provisional liquidator has been appointed under the Insolvency, Restructuring and Dissolution Act 2018 in respect of an electricity licensee or an entity wholly-owned by the Authority (each called in this section E) that is a market participant.
electricity licensee
“electricity licensee” means any person who is granted an electricity licence by the Authority;
Where E has provided the Market Company, a transmission licensee or a market support services licensee any payment security or other security deposit in respect of services provided to E by the Market Company or licensee (as the case may be), the Market Company or licensee may, despite section 133 of the Insolvency, Restructuring and Dissolution Act 2018, draw down on the payment security or other security deposit for any services provided by it to E and that are not paid.
Market Company
“Market Company” means the company which holds an electricity licence authorising it to operate any wholesale electricity market.
Subsection (2) does not affect the applicability or otherwise of any other provision of the Insolvency, Restructuring and Dissolution Act 2018 (including section 219 of that Act), or any other written law or rule of law relating to insolvency.