The Contracts for Difference (Electricity Supplier Obligations) Regulations 2014
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Change 1
32 Use of payments
(1) Where the CFD counterparty receives a payment from an electricity supplier under regulation 23, the CFD counterparty may only use that payment for the purposes of meeting its costs. (2) Where the CFD counterparty receives a payment from an electricity supplier under any regulation, other than regulation 23, the CFD counterparty may only use that payment for the purposes of making CFD counterparty payments, making any repayments due to the Secretary of State in relation to any SoS funds which the CFD counterparty must repay to the Secretary of State at such time and in such amount as may be agreed with the CFD counterparty or making payments to electricity suppliers under these Regulations. (3) In this regulation, “costs” means any costs incurred by the CFD counterparty in connection with the performance by it of any function conferred on it by or by virtue of Chapter 2 of Part 2 of the Act.
32 Use of payments
(1) Where the CFD counterparty receives a payment from an electricity supplier under regulation 23, the CFD counterparty may only use that payment for the purposes of meeting its costs. (2) Where the CFD counterparty receives a payment from an electricity supplier under any regulation, other than regulation 23, the CFD counterparty may only use that payment for the purposes of making CFD counterparty payments, making any repayments due to the Secretary of State in relation to any SoS funds which the CFD counterparty must repay to the Secretary of State at such time and in such amount as may be agreed with the CFD counterparty or making payments to electricity suppliers under these Regulations. (3) In this regulation, “costs” means any costs incurred by the CFD counterparty in connection with the performance by it of any function conferred on it by or by virtue of Chapter 2 of Part 2 of the Act.
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