39. Amendment of section 63B

In the Gas Act, in section 63B —

in subsection (3), replace “a 30% controller” with “a 25% controller, a 30% controller, a 50% controller, a 75% controller”;

after subsection (3), insert —“(3A) No person may, whether through a series of transactions over a period of time or otherwise, cease to become a 50% controller or a 75% controller of a designated gas licensee, a designated entity or a designated business trust without obtaining the prior written approval of the Authority.”; and

in subsection (4), replace paragraph (b) with —“(b)the business (or any part thereof) of a designated entity which —

for a designated entity within paragraph (a) of the definition of “designated entity” in section 63A — relates to a gas pipeline network or any part thereof owned by the designated entity; and

for a designated entity within paragraph (b) of the definition of “designated entity” in section 63A — relates to the activity or any part thereof by reason of which it is a designated entity; or”.