MINISTERIAL DIRECTIONS (TRANSFER OF OWNERSHIP OF LICENSEES)
UNDER SECTION 8 OF ELECTRICITY Act 2016”
Section 7(3) of the Regulatory Authority requires the following Ministerial Direction to be published in the Official Gazette:
Transfers of Ownership of Licensees
Pursuant to Sections 5(6)(a) and 87(8) of the Regulatory Authority Act 2011, the Minister of Home Affairs hereby concludes that there is good cause to waive the deadline for the Regulatory Authority to issue a final decision on the change of control application (the “Application”) submitted on behalf of Bermuda Electric Light Company Limited, Ascendant Group Limited and Algonquin Power & Utilities Corp., as required by section 87(8) of the Regulatory Authority Act 2011, due to the complexity of the statutory process to assess the Application and the national significance of the proposed transaction. The new deadline to assess the Application shall be 4 October 2020.
The Hon. Walter H. Roban, JP, MP
Minister of Home Affairs