The Carbon Dioxide Transport and Storage (Financing of Costs of Offshore Decommissioning) Regulations 2026
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Change 1
23 Payment request from an accountable person
(1) A payment request made to the Secretary of State by an accountable person must include— (a) a breakdown of the payment requested against the relevant accounting code, (b) documents evidencing that the payment is— (i) for a decommissioning action, and (ii) if the accountable person is a relevant person, that the decommissioning action is an approved decommissioning action, (c) a breakdown of the costs of carrying out a decommissioning action, including quotations or other evidence to demonstrate that the costs represent value for money, (d) details of how and when decommissioning actions will be packaged or programmed, so as to ensure (whether by means of the timing of the measures proposed, the inclusion of provision for collaboration with other persons, or otherwise) that the cost of carrying them out is kept to the minimum that is reasonably practicable in the circumstances, (e) the most recent statement of accounts, (f) if applicable, the infrastructure report that relates to the decommissioning action for which the payment is requested, (g) the sum accrued in the offshore decommissioning fund and notionally accrued for the purposes of the infrastructure report, both at the date of the payment request, (h) the estimated cost of the proposed decommissioning action in the current approved fund estimate and where applicable the approved infrastructure estimate, and (i) an explanation for any difference between the payment requested to carry out the action and the corresponding amount estimated for that action in the approved fund estimate, or under the fund sufficiency target. (2) If a person has good reason for being unable to provide all the information mentioned in paragraph (1), that person must— (a) supply as much of the information as reasonably practicable, and (b) explain in the request why some information is unavailable and the efforts made to locate it. (3) Where a relevant person submits a payment request under this regulation, the Secretary of State may presume, in the absence of contrary information, that a relevant person who obtained the approval of a regulator for an approved decommissioning action is the accountable person who will carry out that action, or arrange and control the carrying out of that action.
23 Payment request from an accountable person
(1) A payment request made to the Secretary of State by an accountable person must include— (a) a breakdown of the payment requested against the relevant accounting code, (b) documents evidencing that the payment is— (i) for a decommissioning action, and (ii) if the accountable person is a relevant person, that the decommissioning action is an approved decommissioning action, (c) a breakdown of the costs of carrying out a decommissioning action, including quotations or other evidence to demonstrate that the costs represent value for money, (d) details of how and when decommissioning actions will be packaged or programmed, so as to ensure (whether by means of the timing of the measures proposed, the inclusion of provision for collaboration with other persons, or otherwise) that the cost of carrying them out is kept to the minimum that is reasonably practicable in the circumstances, (e) the most recent statement of accounts, (f) if applicable, the infrastructure report that relates to the decommissioning action for which the payment is requested, (g) the sum accrued in the offshore decommissioning fund and notionally accrued for the purposes of the infrastructure report, both at the date of the payment request, (h) the estimated cost of the proposed decommissioning action in the current approved fund estimate and where applicable the approved infrastructure estimate, and (i) an explanation for any difference between the payment requested to carry out the action and the corresponding amount estimated for that action in the approved fund estimate, or under the fund sufficiency target. (2) If a person has good reason for being unable to provide all the information mentioned in paragraph (1), that person must— (a) supply as much of the information as reasonably practicable, and (b) explain in the request why some information is unavailable and the efforts made to locate it. (3) Where a relevant person submits a payment request under this regulation, the Secretary of State may presume, in the absence of contrary information, that a relevant person who obtained the approval of a regulator for an approved decommissioning action is the accountable person who will carry out that action, or arrange and control the carrying out of that action.
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