Part 14Civil nuclear sector
Chapter 4Great British Nuclear
Great British Nuclear: designation, status and objects
I1317Great British Nuclear
1
The Secretary of State may by notice designate a company as Great British Nuclear.
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 it ceases to be wholly owned by the Crown, or
b
if the Secretary of State revokes its 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
the Nuclear Decommissioning Authority established by section 1 of the Energy Act 2004,
c
the United Kingdom Atomic Energy Authority established by section 1 of the Atomic Energy Authority Act 1954,
d
a company which is wholly owned by the Crown, or
7
A company designated as Great British Nuclear under this section is exempt from the requirement in section 59 of the Companies Act 2006 (requirement as to use of “limited” in company 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).
I2318Crown status
1
Great British Nuclear is not to be regarded as a servant or agent of the Crown or as enjoying any status, immunity or privilege of the Crown.
2
Great British Nuclear’s property is not to be regarded as property of, or property held on behalf of, the Crown.
I3319Great British Nuclear’s objects
Great British Nuclear’s objects are to facilitate the design, construction, commissioning and operation of nuclear energy generation projects for the purpose of furthering any policies published by His Majesty's government.