Nuclear Energy (Financing) Act 2022
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Change 1
21 Application of sums held by a revenue collection counterparty
(1) Revenue regulations may make provision for apportioning sums— (a) received by a revenue collection counterparty from electricity suppliers under provision made by virtue of section 19; (b) received by a revenue collection counterparty under a revenue collection contract, in circumstances where the revenue collection counterparty is unable to fully meet its liabilities under a revenue collection contract. (2) The provision that may be made by virtue of subsection (1) includes provision about the meaning of “unable to fully meet its liabilities under a revenue collection contract”. (3) In making provision by virtue of subsection (1), the Secretary of State must have regard to the principle that sums should be apportioned in proportion to the amounts that are owed. (4) Revenue regulations may make provision about the application of sums held by a revenue collection counterparty. (5) The provision that may be made by virtue of subsection (4) includes provision that sums are to be paid, or not to be paid, into the Consolidated Fund.
21 Application of sums held by a revenue collection counterparty
(1) Revenue regulations may make provision for apportioning sums— (a) received by a revenue collection counterparty from electricity suppliers under provision made by virtue of section 19; (b) received by a revenue collection counterparty under a revenue collection contract, in circumstances where the revenue collection counterparty is unable to fully meet its liabilities under a revenue collection contract. (2) The provision that may be made by virtue of subsection (1) includes provision about the meaning of “unable to fully meet its liabilities under a revenue collection contract”. (3) In making provision by virtue of subsection (1), the Secretary of State must have regard to the principle that sums should be apportioned in proportion to the amounts that are owed. (4) Revenue regulations may make provision about the application of sums held by a revenue collection counterparty. (5) The provision that may be made by virtue of subsection (4) includes provision that sums are to be paid, or not to be paid, into the Consolidated Fund.
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