Energy Act 2016

Closure of carbon levy account

18. Section 40M of the Act of 1999 is amended by inserting the following subsection after subsection (6):

“(7) (a) The Minister may give a direction to the Commission to close the account referred to in subsection (1).

(b) The Commission shall—

(i) close the account not later than 45 days after the date of the direction given under paragraph (a), and

(ii) pay moneys (if any) standing to the credit of the account as the Minister may direct under subsection (3).”.