The Carbon Dioxide Transport and Storage (Financing of Costs of Offshore Decommissioning) Regulations 2026
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Change 1
22 Persons who may receive a payment from an offshore decommissioning fund
The only persons who may receive payments from an offshore decommissioning fund are the persons mentioned in this paragraph— (a) an accountable person, for decommissioning costs in accordance with an approved payment request, (b) a person who has entered into a contract or other arrangement for the purposes of carrying out, or facilitating the carrying out, of a decommissioning action, pursuant to a safeguard measure required under an approval granted by the Secretary of State under regulation 27, (c) a fund holder or fund administrator, where the payment is made in accordance with an approved payment request for post operations fund administration costs, (d) the Secretary of State, or (e) His Majesty’s Revenue and Customs, where the payment is made to meet tax liabilities relating to the offshore decommissioning fund.
22 Persons who may receive a payment from an offshore decommissioning fund
The only persons who may receive payments from an offshore decommissioning fund are the persons mentioned in this paragraph— (a) an accountable person, for decommissioning costs in accordance with an approved payment request, (b) a person who has entered into a contract or other arrangement for the purposes of carrying out, or facilitating the carrying out, of a decommissioning action, pursuant to a safeguard measure required under an approval granted by the Secretary of State under regulation 27, (c) a fund holder or fund administrator, where the payment is made in accordance with an approved payment request for post operations fund administration costs, (d) the Secretary of State, or (e) His Majesty’s Revenue and Customs, where the payment is made to meet tax liabilities relating to the offshore decommissioning fund.
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