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304. Meaning of "step-in rights"

(1) A person has "step-in rights" if a person who provides finance in connection with the project has a conditional entitlement under an agreement to —
(a) assume sole or principal responsibility under an agreement for carrying out all or part of the project; or
(b) make arrangements for carrying out all or part of the project.
(2) In sub-paragraph (1) a reference to the provision of finance includes a reference to the provision of an indemnity.