Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Act 2023
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Surcharge for late return | ||||||||
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21. (1) Where a producer, intermediary or trader fails to make a return on or before the specified date, the adjusted surplus revenue that would have been payable to the collection agent if such a return had been made on or before that date shall be increased by an amount (in this section referred to as the “surcharge”), equal to the percentage, specified in column (2) of the Table to this section, opposite the timing of the delivery of the return relative to the specified date, specified in column (1) of the Table. | ||||||||
(2) Where subsection (1) applies, the amount of the surcharge shall not exceed— | ||||||||
(a) €12,695, where the surcharge applicable is 5 per cent, or | ||||||||
(b) €63,485, where the surcharge applicable is 10 per cent. | ||||||||
(3) Interest is payable under section 22 on any surcharge as if the surcharge were an amount of adjusted surplus revenue, and the surcharge and any interest on that surcharge is chargeable and recoverable as if the surcharge and that interest were an amount of adjusted surplus revenue payable under section 20 . | ||||||||
(4) For the purposes of subsection (1)— | ||||||||
(a) where a producer, intermediary or trader deliberately or carelessly makes an incorrect return on or before the specified date, that producer, trader or intermediary shall be deemed to have failed to have made the return on or before that date unless the error in the return is remedied by the making of a correct return on or before that date, | ||||||||
(b) where a producer, intermediary or trader makes an incorrect return on or before the specified date, but does so neither deliberately nor carelessly and it comes to the attention of the producer, intermediary or trader that it is incorrect, the producer, intermediary or trader shall be deemed to have failed to have made the return on or before the specified date unless the error in the return is remedied by the making of a correct return without unreasonable delay, and | ||||||||
(c) where a producer, intermediary or trader makes a return on or before the specified date, and the competent authority gives notice under section 17 requiring further information, the producer, intermediary or trader shall be deemed to have failed to have made the return on or before the specified date unless the producer, intermediary or trader delivers that further information within the period specified in the notice. | ||||||||
(5) An amount payable to the collection agent in respect of surcharge under this section may be recovered by the collection agent from the producer, intermediary or trader concerned as a simple contract debt in any court of competent jurisdiction. | ||||||||
(6) In this section— | ||||||||
“carelessly” means failure to take reasonable care; | ||||||||
“specified date”— | ||||||||
(a) in relation to a return under section 15 (1), means not later than 31 December 2023, or if applicable, the date immediately following the expiry of the period referred to in section 16 (5), | ||||||||
(b) in relation to a return under section 15 (2), means a date as may be prescribed under section 15 (2), and | ||||||||
(c) in relation to a return containing a revised assessment under section 18 (3), means the date immediately following the expiry of the period referred to in section 18 (4). | ||||||||
TABLE | ||||||||
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