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The Fossil Fuel Levy (Amendment) Regulations 1996
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- UK Statutory Instruments
- 1996 No. 1309
- Explanatory Note
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Explanatory Note
(This note is not part of these Regulations)
These Regulations amend the Fossil Fuel Levy Regulations 1990 (“the Principal Regulations”) (S.I. 1990/266).
They substitute a new Schedule 2 which makes the following change of substance: it specifies a method for calculating the rate of levy (as defined in regulation 2 of the Principal Regulations) where a revised rate is to apply from the beginning of a month other than April in any year (see the new formula in paragraph 3(b) and the revised formula in paragraph 5).
They also provide that money received by the Director General of Electricity Supply pursuant to the Principal Regulations may be invested by him through any one or more of the Bank of England and (in place of the Committee of London and Scottish Bankers) any institution of the classes specified in regulation 3 of these Regulations.
A compliance cost assessment of the effect that this instrument would have on the cost of business is available from the Department of Trade and Industry Library, Lower Ground Floor, 1 Victoria Street, London SW1H 0ET.
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