32. The Authority must maintain a fund (“levelisation fund”) into which payments by FIT licensees and from which payments by the Authority under this Part are to be made.
33.—(1) When a licensee is entitled to a levelisation payment from the Authority or the Authority must make a levelisation payment to a licensee, the Authority must give notice of that matter.
(2) Where the Authority gives notice to a licensee stating that it must make a levelisation payment, the notice must state the date on or before which the payment must be received.
(3) Where a licensee is given notice that it is entitled to receive an a levelisation payment, that payment must be made by the Authority as soon as possible after the notice is given.
34. Where a licensee fails to make a levelisation payment to the Authority by the date required for such payment (“a late payment”), the Authority may suspend payment of a levelisation payment to which the licensee may be entitled (or part of such payment) until the late payment has been made.
35.—(1) Paragraph (2) applies where the Authority believes that the amount in the levelisation fund will not be sufficient to enable it to make a levelisation payment when that payment is due to be made.
(2) Where this paragraph applies, the Authority may defer the payment of all or part of the amount due until there is a sufficient amount in the levelisation fund.