Riadace Limited - Notice of Revocation of a gas supply licence
Licence revocation
Publication date
Company
Industry sector
Supply and Retail Market
Licence type
Gas Supplier Licence
NOTICE OF REVOCATION OF A LICENCE PURSUANT TO SECTION 7A WITH REASONS PURSUANT TO SECTION 38A OF THE GAS ACT 1986
Notice of Revocation
Whereas
1. Riadace Limited (company registration number 07559174), having its registered office at Cable Plaza, Waterfront West, Brierley Hill, West Midlands, DY5 1LW, United Kingdom, is the holder of a Gas Supply Licence (“the Licence”) granted or treated as granted under section 7A(1)(a) of the Gas Act 1986 (“the Act”).
2. Section 7B(3) of the Act provides that a licence granted or treated as granted under the Act may be revoked in accordance with any term contained in it.
3. The terms of the Licence provide that the Gas and Electricity Markets Authority (“the Authority”) may at any time revoke the Licence on giving not less than 24 hours’ notice to Riadace Limited where it has passed a resolution for the winding up of the company.
4. By a resolution passed on 29 February 2016, Riadace Limited resolved that the company would be wound up voluntarily.
5. The Authority is satisfied that any arrangements required to be made under 7A(9) of the Act have been made if applicable.
Therefore
6. The Authority hereby gives notice that with effect from 3 May 2016 the Licence shall be revoked.
Reasons for Decision
7. The Authority has decided that the Licence should be revoked in accordance with paragraph 1(f)(ii) of Schedule 2 of the Licence because the Licensee has a receiver of the whole or any material part of its assets of undertaking appointed.
The Official seal of the Gas and Electricity
Markets Authority here
affixed is authenticated by –
Lesley Nugent
Authorised in that
behalf by the Authority