The Carbon Dioxide Transport and Storage (Determination of Turnover for Penalties) Regulations 2024
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3 Determination of turnover for the purposes of paragraph 10 of Schedule 3 to the Act
(1) Subject to paragraphs (2) to (5) below, for the purposes of paragraph 10 of Schedule 3 to the Act, the turnover of the licence holder shall be the applicable turnover for the business year preceding the date of notice. (2) Where the business year preceding the date of notice does not equal 12 months the turnover shall be the amount which bears the same proportion to the applicable turnover during that business year as 12 months does to the period of that business year. (3) Where there is no preceding business year the turnover shall be the applicable turnover of the licence holder for the period of 12 months ending on the last day of the month preceding the month in which the date of notice falls. (4) Where in the application of paragraph (3) above the licence holder has applicable turnover for a period of less than 12 months the turnover shall be the amount which bears the same proportion to the applicable turnover during the period for which the licence holder has applicable turnover as 12 months does to that period. (5) Financial assistance of any kind granted by a public body or a publicly-owned company to a licence holder which relates to one of the licence holder’s ordinary activities shall be included in the calculation of turnover if the financial assistance— (a) is directly linked to the provision of goods and services by the licence holder; or (b) is provided under a carbon dioxide transport and storage revenue support contract.
3 Determination of turnover for the purposes of paragraph 10 of Schedule 3 to the Act
(1) Subject to paragraphs (2) to (5) below, for the purposes of paragraph 10 of Schedule 3 to the Act, the turnover of the licence holder shall be the applicable turnover for the business year preceding the date of notice. (2) Where the business year preceding the date of notice does not equal 12 months the turnover shall be the amount which bears the same proportion to the applicable turnover during that business year as 12 months does to the period of that business year. (3) Where there is no preceding business year the turnover shall be the applicable turnover of the licence holder for the period of 12 months ending on the last day of the month preceding the month in which the date of notice falls. (4) Where in the application of paragraph (3) above the licence holder has applicable turnover for a period of less than 12 months the turnover shall be the amount which bears the same proportion to the applicable turnover during the period for which the licence holder has applicable turnover as 12 months does to that period. (5) Financial assistance of any kind granted by a public body or a publicly-owned company to a licence holder which relates to one of the licence holder’s ordinary activities shall be included in the calculation of turnover if the financial assistance— (a) is directly linked to the provision of goods and services by the licence holder; or (b) is provided under a carbon dioxide transport and storage revenue support contract.
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