Newsletter-21

289 ENERGY LAW According to the latest proposed amendment added to the Expo- sure Draft, each renewable generation facility shall be allocated no more than 1MV for a single transformer, regardless of the number of its consuming facilities 15 . Another novelty introduced with the latest amendment on the Exposure Draft is on the share transfers of the unlicensed generation facilities. The generation facility subject to the Regulation shall not transfer its shares within the period starting from the date of appli- cation for the Call Paper for the generation facility until the date of the “provisional acceptance” granted in favor of the applicant. Share transfers, apart from those mentioned, shall promptly be notified to the related network operator, at least one month prior to the share transfer. The parties to the share transfer shall provide the related network op- erator with the information and documents pertaining to the potential and final share structure of the generation facility, within ten business days as of the share transfer transaction 16 . Further, the below-mentioned persons and entities shall not en- gage in unlicensed electricity generation operations within the scope of the Regulation 17 : • Direct or indirect shareholders of the distribution and pro- curement companies, • Personnel employed within the body of the distribution and procurement companies and their direct or indirect share- holders, • The legal persons of whom the above-mentioned real and legal persons are direct or indirect shareholders. Conclusion The publication of the Exposure Draft on EMRA’s website has created a stir among the market players and investors; particularly to those who plan to invest, or have already invested, in unlicensed 15 Article 6/10. 16 Article 31/20. 17 Article 31/21.