Amendment of regulation 18
47.—(1) Regulation 18 (civil penalties) is amended as follows.
(2) In paragraph (1), for “or 16(4)”, substitute “16(4) or 16F(6)”.
(3) In paragraph (2), for “13(5) or 14(5)” substitute “13(2), 13(6), 14(5), 16B(5) or 16E(13)”.
(4) In paragraph (3), after “subsequently” insert “, but not later than 16th August (or the next working day after 16th August, if 16th August is not a working day) immediately following the reporting period to which the information or evidence relates”.
(5) For paragraph (4), substitute—
“(4) The amount of a civil penalty under this regulation is—
(a)in the case of an account holder who has gained, or attempted to gain, one or more GHG credits by contravening a provision referred to in paragraph (1) or (2), an amount which is equivalent to the lesser of—
(i)twice the value of the GHG credits which the account holder has gained, or attempted to gain; or
(ii)10 per cent of the turnover of the specified business of the supplier; and
(b)in any other case, £50,000 or the amount equal to 10 per cent of the turnover of the specified business of the supplier, whichever is the lesser.
(4A) In paragraph (4)(a), the value of a GHG credit is equivalent to the buy-out amount, determined in accordance with regulation 16F(7), for the reporting period in respect of which the GHG credit is issued or would have been issued.”.