Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Act 2023
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Obligation to keep certain records | ||
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23. (1) A producer, intermediary or trader shall retain, or cause to be retained on it’s behalf, such records as are required to enable a full and true return to be made for the purposes of this Act. | ||
(2) Without prejudice to the generality of subsection (1), the records required to be retained under that subsection shall include, but are not limited to, books, accounts, documents, and any other data relating to— | ||
(a) a return under Chapter 2, and | ||
(b) the calculation by the producer, intermediary or trader of the amount of adjusted surplus revenue liable to be paid by it under this Act. | ||
(3) Records required to be retained under this section shall be retained in an official language of the State— | ||
(a) in written form, or | ||
(b) by electronic, photographic, digital or other means such that they may be made legible as required. | ||
(4) Notwithstanding any other law, records to be retained under this section shall, subject to subsection (5), be retained by or on behalf of the producer, intermediary or trader for the longer of the following periods: | ||
(a) the period ending on the day that performance of his or her functions under section 24 , in relation to the records, by an inspector is treated as completed by the inspector; | ||
(b) the period of 6 years commencing from the later of the dates referred to in subsection (1), (2), (4) or, as the case may be, (6), of section 20 as may apply to the producer, intermediary or trader. | ||
(5) For the purposes of this section, where the producer, intermediary or trader being a company— | ||
(a) is wound up, the liquidator, or | ||
(b) is dissolved without the appointment of a liquidator, the last directors, including any person occupying the position of director by whatever name called, of the company, | ||
shall retain the records required to be retained under this section for a period of 5 years from the date from which the company is wound up or dissolved. | ||
(6) A producer, intermediary or trader who fails to comply with this section shall be guilty of an offence. |