Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Act 2023
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Requirement to revise assessment | ||
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18. (1) The competent authority, where it appears to it that an assessment referred to in section 15 (1)(d) or section 15 (2)(c)(ii) is not correct, may make a determination that a revised assessment is required. | ||
(2) Where the competent authority proposes to make a determination under subsection (1) it shall give notice to the person who made the return under subsection (1) or (2) of section 15 of the authority’s proposed determination, and that the person may, within 30 days after the date of the notice, to give a notice to the competent authority objecting to the proposed determination under subsection (1) and stating the reason for the objection. | ||
(3) On or after the expiry of the period of 30 days referred to in subsection (2), the competent authority, having considered any objections made to it under subsection (2), shall make whatever determination it considers appropriate, including substituting its own assessment, and shall give notice to the person of its determination, the main reasons for that determination, and, if appropriate, requiring the person to make a new return under subsection (1) or (2) of section 15 , as the case may be, to the competent authority, containing a revised assessment. | ||
(4) Subject to section 19 , a person who is given a notice under subsection (3) requiring the person to make a new return containing a revised assessment shall make the new return to the competent authority not later than 30 days after the date of the notice and not the date specified in section 15 (1) or prescribed under section 15 (2). | ||
(5) A person referred to in subsection (4) who, without reasonable excuse, fails to make a new return within the period specified in that subsection shall be guilty of an offence. |