[72D Third exception: utilities]

[72D  Third exception: utilities]

[(1)     Section 72A does not prevent the appointment of an administrative receiver of a project company of a project which—

(a)     is a utility project, and

(b)     includes step-in rights.

(2)     In this section—

(a)     “utility project” means a project designed wholly or mainly for the purpose of a regulated business,

(b)     “regulated business” means a business of a kind listed in paragraph 10 of Schedule 2A,

(c)     “step-in rights” has the meaning given by paragraph 6 of that Schedule, and

(d)     “project company” has the meaning given by paragraph 7 of that Schedule.]

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