Street Works (Recovery of Costs) Regulations (Northern Ireland) 2003

Interpretation

2.  In these Regulations –

“the Order” means the Street Works (Northern Ireland) Order 1995;

“the 1998 Regulations” means the Street Works (Sharing of Costs of Works) Regulations (Northern Ireland) 1998(1);

“chargeable job” means an item of work, the costs of which are recoverable under the provisions of the Order;

“claimant” means an authority, body or person who is entitled to recover costs under the Order;

“costs” means costs or expenses referred to in Article 53(1) of the Order as being recoverable by an authority, body or person under the provisions of the Order;

“cost centre” means a unit of financial accountability identifiable within a claimant’s management accounts and responsible for specific activities within a claimant’s organisation;

“cost of capital” means the cost of capital calculated by reference to the rate of return which is prescribed either by statute or by the relevant regulator in respect of the claimant’s regulated activities (whether or not the chargeable job is such an activity) or, if no rate is prescribed, by reference to a rate which is two per cent above the Public Sector Discount Rate as set by the Treasury from time to time;

“direct costs” means those costs described in regulation 5;

“overheads” means those costs described in regulation 6;

“support services” means services provided from within an organisation in support of activities which incur direct costs.

(1)

S.R. 1998 No. 156 as amended by S.R. 2001 No. 338