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The Fossil Fuel Levy Regulations 1990
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Supply below market price: balancing payments in respect of levy
23.—(1) Upon receipt of a notice under regulation 22, the licensed supplier shall as quickly as practicable calculate the amount which would have been payable in respect of the relevant qualifying month, or each of the relevant qualifying months, if that amount had been calculated by reference to the price set out in that notice.
(2) As soon as he has completed the calculation mentioned in paragraph (1), the licensed supplier shall pay to the Director an amount equal to the difference between–
(a)the amount produced by that calculation; and
(b)the amount already due in respect of the levy in respect of the relevant qualifying month, or each of the relevant qualifying months,
(together with an amount in respect of interest in accordance with regulation 29(1)).
(3) At the same time as he makes a payment in accordance with paragraph (2) the licensed supplier shall furnish to the Director a statement of the manner in which he has calculated that payment.
(4) In this regulation “relevant qualifying month” means a qualifying month in respect of which the licensed supplier was due to make a payment pursuant to regulation 11 and in relation to which the Director has served a notice under regulation 22.
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