These Regulations suspend legislation on public intervention for a period of 5 years beginning on 1 July 2023. These Regulations also amend legislation on private storage aid. Public intervention and private storage aid legislation is retained EU law.

These Regulations make further amendments to retained EU law which are consequential to the suspension of legislation on public intervention and the amendment of legislation on private storage aid.

These Regulations come into force on 1 July 2023.

With respect to the framework for private storage aid, the amendments made by these Regulations remove the requirement to carry out unannounced, on the spot checks during the period of storage of the product to ensure the presence and identity of the contractual quantity in the place of private storage. They also increase the minimum percentage of physical checks at the beginning and end of the storage period from 5% to 10%.

In addition, these Regulations remove the requirement for operators to lodge a security when submitting a tender or an application for aid for private storage. They also amend the requirement for tenders for private storage aid to set out the amount of proposed aid in euro, so that this is instead set out in sterling.

In respect of the products that are eligible for private storage aid, these Regulations remove the requirement for cheese to have a protected designation of origin or geographical indication in order to be eligible for private storage aid.

Regulation 10 contains a transitional provision which provides that the amendments made by regulations 3 to 9 and the revocation made by regulation 11 are of no effect in so far as they relate to an admissible offer for public intervention which is received before the coming into force of the instrument.

A Business and Regulatory Impact Assessment has not been produced for this instrument as no, or no significant, impact on business, charities or voluntary bodies is foreseen.