Examples of Project Specification Notice in a sentence
Revocation of the Project Specification Notice and impact on TWULIt should be noted that neither the Secretary of State nor Ofwat is entitled to revoke the Project Specification Notice pursuant to Regulation 4(7) unless one or both conditions in Regulation 4(3) cease to be satisfied.
Where there is a transfer exit through a share sale, the incoming shareholders should continue to be bound by all the contracts between BTL and TWUL and the TTT Project will continue as a specified infrastructure project in accordance with the terms of the Project Specification Notice.
The COL observed that the Water Industry (Specified Infrastructure Projects) (English Undertakers) Regulations 2013 Draft Thames Tideway Tunnel Project Specification Notice, had been referenced in TW’s drafting notes to the 13 January revision, and had provided some of the wording for the new definitions.
Equally the Secretary of State could vary a specification notice providing the same tests continue to be satisfied in relation to the varied specified infrastructure project.It has, however, been confirmed by the Secretary of State and Ofwat that it is the intention of the Secretary of State and Ofwat that revocation of the Project Specification Notice relating to this TTT Project will not occur after the Commencement Date without a prior or concurrent Discontinuation.
Effect of revocationWhere the Project Specification Notice is revoked, the provisions set out above will apply.
It is a decision taken by Government and Government gave effect to that decision by issuing the Project Specification Notice in June 2014 (it can be accessed on the Gov.uk website).
Subject to paragraph 7.2, if the Project Specification Notice is revoked, the Water Services Regulation Authority will direct the Appointee as to the treatment of any revenue collected by the Appointee with respect to the IP Charge pursuant to Condition B that it has not already passed on to the Infrastructure Provider in accordance with the Revenue Agreement and the Appointee shall comply with any such direction.
On 4 June 2014, the Secretary of State specified the Project under the Regulations by way of a Project Specification Notice.At a high level, the Project Specification Notice describes the Project as including: the design, construction, testing and commissioning of the Thames Tideway Tunnel and associated infrastructure; and once constructed and accepted, the operation and maintenance of certain IP- owned structures.
There is a risk that Ofwat will not allow the costs put forward in the PR14 business plan in respect of the TTT Project, or that such costs will have underestimated the costs which will be incurred by TWUL in carrying out the TTT Project due to changes in the Project Specification Notice and Regulation 5 notice which are issued by the Secretary of State in respect of the TTT Project.
This License Agreement, together with the Supply Agreement, contains the entire agreement of MOPAC and Biopure with respect to the subject matter hereof and supersedes and cancels any and all prior negotiations, discussions and agreements between MOPAC and Biopure with respect thereto.