Gas (Amendment) Act, 2000
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Provisions with respect to bonds, levies, etc. under regulations. |
11.—(1) Regulations may include a provision requiring each person who is selected to effect a bond (in a form approved by the Minister) with another person providing for the payment by that other person to the Minister of specified amounts under the bond (not exceeding in aggregate the amount referred to in subsection (4)), in the event that the planned generating station in relation to the first-mentioned person is not capable, on the commissioning date in relation to that person's application, of sending out an amount of electricity, up to its rated generating capacity, to the transmission or distribution system, being amounts related to the number of days that elapse after that date for which the station continues not to be so capable. | |||
(2) Such a bond shall not be effected otherwise than with a person who has been approved for the purpose by the Minister. | ||||
(3) The provision referred to in subsection (1)— | ||||
(a) shall provide that if the relevant rights of the person concerned stand forfeited under the provision of the regulations referred to in paragraph (a) or (b) of section 2 (6), no amounts shall be payable under the bond referred to in that provision on or after the date of such forfeiture, | ||||
(b) may provide that no amounts or, as the case may be, no further amounts shall be payable under the said bond if the reason for the generating station concerned not being capable of doing, on the date concerned or, as the case may be, at a time subsequent to the date concerned, the thing referred to in subsection (1) is due to force majeure. | ||||
(4) The amount mentioned in subsection (1) is the amount obtained by the following formula: | ||||
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where— | ||||
C is the rated generating capacity of the planned generating station expressed in megawatts, | ||||
and | ||||
M is a megawatt. | ||||
(5) Regulations may include a provision enabling the Commission to impose, for the purposes referred to in subsection (6), a levy of an amount specified in the regulations on each person who is selected under the regulations. | ||||
(6) The purposes mentioned in subsection (5) are— | ||||
(a) the purpose of defraying the expenses incurred by the Commission in performing its functions under this Act and the regulations, | ||||
(b) the purpose of recouping to the Minister the sums expended by him or her before the passing of this Act or the making of the regulations in taking steps, in anticipation of this Act's passing or the making of the regulations, to facilitate the doing by the Commission of any thing the doing of which by it is provided for by this Act or the regulations. | ||||
(7) Regulations may include such incidental, supplementary and consequential provisions as appear to the Minister to be necessary or expedient. |