PART III TRANSFER SCHEMES ETC.

40 Interpretation of Part III
1 In this Part—
“compliance purposes” means the purposes of implementing Article 15 of European Parliament and Council Directive 2003/54/EC concerning common rules for the internal market in electricity and repealing Directive 96/92;
“existing supply licence” shall be construed in accordance with regulation 12(1);
“nominated associate” and “nominating licensee” shall be construed in accordance with regulation 13;
“property arrangements scheme” has the meaning given by regulation 14(2);
“third party”, in relation to a property arrangements scheme, means a person other than the nominating licensee or any nominated associate.
2 For the purposes of this Part, a provision of a property arrangements scheme adversely affects a third party if—
(a) his consent or concurrence would be required to the making of the provision otherwise than by means of the scheme; and
(b) he does not consent to the making of the provision by means of the scheme.