JP Morgan Securities Plc - Notice of Revocation of a Gas Supply Licence
Licence revocation
- Publication date
- Company
- J.P. Morgan Securities plc
- 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. JP Morgan Securities Plc (company registration number 02711006), having its registered office at 25 Bank Street, Canary Wharf, London, E14 5JP, 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. Paragraph 1(e) of Schedule 2 of the Licence provides that the Gas and Electricity Markets Authority (the “Authority”) may at any time revoke the Licence on giving no less than 30 days’ notice to JP Morgan Securities Plc where it has not commenced the licensable activity within 1 year after the date on which the Licence comes into force or has ceased to supply gas to all customers.
4. The licensee has ceased to supply gas to all customers.
Reasons for Decision
5. The Authority has decided that the Licence should be revoked in accordance with paragraph 1(e)(ii) of Schedule 2 of the Licence because the licensee has ceased to supply gas to all customers.
Therefore
6. The Authority hereby gives notice that, unless the Authority otherwise directs, the Licence will be revoked with effect from 05:01am on 16 March 2022
Lynn Parker
Duly authorised on behalf of the Gas and Electricity Markets Authority
11 February 2022