Examples of Protected Land in a sentence
The POS shall generate, store and transmit the transactions data, events and alerts data, maintenance data, operational logs and any other type of data as may be required.
These include a restriction on the disposal (except with the consent of Ofwat) of Protected Land required for carrying out the Appointed Business.
In addition, Ofwat can impose conditions on disposals of Protected Land including conditions relating to the manner in which the proceeds of a sale are to be used.Given the purposes of the WIA (in particular, the purposes of the Special Administration regime and the restrictions on enforcement of security thereunder) and of Condition K of its licence, a Regulated Company would not expect to obtain the consent of the Secretary of State or Ofwat to the creation of any security over its Protected Land.
The substantial majority of Anglian Water’s assets by value is tangible property which is either Protected Land (as defined in the WIA) and/or are assets which are required for the carrying out of Anglian Water’s Regulated Business and cannot therefore be effectively secured (at least, in the case of Protected Land, without the prior consent of the WSRA).
Accordingly, a licence restricts a Regulated Company’s ability to create a charge or mortgage over Protected Land.