Section 1 | Great British Energy

(1)The Secretary of State may by notice designate a company as Great British Energy.

(2)A company may be designated under this section only if—

(a)it is limited by shares, and

(b)it is wholly owned by the Crown.

(3)A notice under subsection (1)—

(a)must specify the time from which the designation has effect, and

(b)must be published by the Secretary of State as soon as reasonably practicable after the notice is given.

(4)The designation of a company terminates—

(a)if the company ceases to be wholly owned by the Crown, or

(b)if the Secretary of State revokes the designation by notice.

(5)A notice under subsection (4)(b)—

(a)must specify the time from which the revocation has effect, and

(b)must be published by the Secretary of State as soon as reasonably practicable after the notice is given.

(6)For the purposes of this section a company is wholly owned by the Crown if each share in the company is held by—

(a)a Minister of the Crown,

(b)a company which is wholly owned by the Crown, or

(c)a nominee of a person falling within paragraph (a) or (b).

(7)Great British Energy is exempt from the requirements of the Companies Act 2006 relating to the use of “limited” as part of its name.

(8)In this section—

“company” means a company registered under the Companies Act 2006;

“Minister of the Crown” has the same meaning as in the Ministers of the Crown Act 1975 (see section 8(1) of that Act).