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NPE meaning

Published by a LexisNexis Energy expert
What does NPE mean?
NPE means nuclear pressure equipment: pressure vessels, piping, valves and related assemblies used in nuclear installations where failure could release radioactivity. In UK and Irish legal practice this is a descriptive industry term, not a defined statutory expression. In Great Britain, the Pressure Equipment (Safety) Regulations 2016 (mirroring Directive 2014/68/EU) exclude such equipment, so NPE is not CE/UKCA marked under that regime. Instead, NPE on licensed nuclear sites is regulated principally under the Nuclear Installations Act 1965, nuclear site licence conditions enforced by the Office for Nuclear Regulation (ONR), and, where applicable, the Pressure Systems Safety Regulations 2000 (including written schemes of examination). Conformity and assurance are addressed through the licensee’s safety case and quality management arrangements, often by reference to nuclear class codes (for example ASME III or RCC-M). Northern Ireland applies the EU Pressure Equipment Directive under the Windsor Framework, which also excludes nuclear equipment; there are no licensed nuclear installations. Ireland applies the EU Directive and likewise has no licensed civil nuclear sites. Usage of “NPE” is broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland, typically in procurement, technical specifications and regulatory submissions.
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PRACTICE NOTES
EU Securitisation Regulation: STS (traditional and synthetic), risk retention, investor due diligence, transparency, RTS/ITS and guidelines, repositories, and 2025 reform proposals

STOP PRESS: On 17 June 2025, the European Commission adopted a package of measures proposing amendments to the EU securitisation regime. Headline elements comprise a lighter due diligence and risk analysis duty for institutional investors in EU securitisations, a shift towards a principles-based approach for securitisations overall, and a lower risk retention requirement for sell-side entities in certain securitisation types. The Commission’s proposals are presently being reviewed by the European Parliament and the Council. There is no fixed timetable for this process, though it is expected to take at least 18–24 months. EU Securitisation Regulation and related legislation—background and purpose In September 2015, the Commission issued the Action Plan on Building a Capital Markets Union. The plan set out a broad suite of measures designed to create integrated capital markets across the EU’s Member States—a Capital Markets Union or CMU—to encourage investment and drive growth. The CMU Action Plan stated that, following the crisis, EU securitisation markets remained significantly impaired, harmed by concerns about the securitisation process and...

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