The Carbon Dioxide Transport and Storage (Financing of Costs of Offshore Decommissioning) Regulations 2026
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
30 Early closure of the offshore decommissioning fund
(1) This regulation applies where— (a) all covered offshore infrastructure has been or will be transferred to a different relevant person, who has established an offshore decommissioning fund in accordance with these Regulations and a transfer of fund assets to that fund has been approved by the Secretary of State under regulations 11 or 12, or (b) the Secretary of State considers that— (i) the offshore decommissioning fund is in breach of legal obligations, (ii) the offshore decommissioning fund is not being managed in accordance with these Regulations, (iii) there are other more viable and cost effective ways of holding and managing fund assets and using fund assets to meet the decommissioning costs of the covered offshore infrastructure, (iv) closure of the offshore decommissioning fund is appropriate in order to give effect to a scheme or UK court order in accordance with regulation 12, or (v) closure of the offshore decommissioning fund is necessary to comply with a requirement of the approved holding arrangement, or a legal requirement of a part of the United Kingdom. (2) Where paragraph (1)(a) applies, the Secretary of State may serve a notice on the fund holder specifying— (a) the person to whom the fund assets are to be transferred, (b) the proposed date of the transfer of fund assets, which must occur on or after the date of the transfer of the covered offshore infrastructure and must afford the fund holder reasonable notice to effect the transfer of fund assets, and (c) the fact that the offshore decommissioning fund must be closed as soon as reasonably practicable after the date of the transfer of fund assets. (3) Where the Secretary of State considers that at least one of the grounds in paragraph (1)(b) apply, the Secretary of State may serve a notice on the fund holder and relevant persons, specifying— (a) the ground in paragraph (1)(b) relied upon, (b) the person to whom the fund assets are to be transferred, which may include the Secretary of State, (c) the proposed date of the transfer, which must be reasonable, (d) the fact that the offshore decommissioning fund must be closed as soon as reasonably practicable after the date of that transfer, (e) a date by which a relevant person must make representations. (4) The Secretary of State must consider representations received before the date specified under paragraph (3)(e). (5) The Secretary of State must notify the fund holder and the relevant persons notified under paragraph (3), within a reasonable period of time, whether having considered the representations, the Secretary of State has determined that— (a) a transfer of fund assets and early closure of the fund should proceed as the notice under paragraph (3) had proposed, (b) a transfer of fund assets and early closure of the fund should proceed with specified modifications to the matters set out in the notice served under paragraph (3), or (c) no transfer of fund assets or early closure of the fund should occur at the relevant time. (6) Fund assets may not be transferred to a person under this regulation, unless that person is to hold them for the purpose of providing security for decommissioning costs in respect of some or all of the covered offshore infrastructure. (7) Where an offshore decommissioning fund is closed under this regulation, the post operations fund administration costs for which a payment may be claimed under regulation 25 may only be the costs incurred for the period ending on the date of the transfer of fund assets prior to closure.
30 Early closure of the offshore decommissioning fund
(1) This regulation applies where— (a) all covered offshore infrastructure has been or will be transferred to a different relevant person, who has established an offshore decommissioning fund in accordance with these Regulations and a transfer of fund assets to that fund has been approved by the Secretary of State under regulations 11 or 12, or (b) the Secretary of State considers that— (i) the offshore decommissioning fund is in breach of legal obligations, (ii) the offshore decommissioning fund is not being managed in accordance with these Regulations, (iii) there are other more viable and cost effective ways of holding and managing fund assets and using fund assets to meet the decommissioning costs of the covered offshore infrastructure, (iv) closure of the offshore decommissioning fund is appropriate in order to give effect to a scheme or UK court order in accordance with regulation 12, or (v) closure of the offshore decommissioning fund is necessary to comply with a requirement of the approved holding arrangement, or a legal requirement of a part of the United Kingdom. (2) Where paragraph (1)(a) applies, the Secretary of State may serve a notice on the fund holder specifying— (a) the person to whom the fund assets are to be transferred, (b) the proposed date of the transfer of fund assets, which must occur on or after the date of the transfer of the covered offshore infrastructure and must afford the fund holder reasonable notice to effect the transfer of fund assets, and (c) the fact that the offshore decommissioning fund must be closed as soon as reasonably practicable after the date of the transfer of fund assets. (3) Where the Secretary of State considers that at least one of the grounds in paragraph (1)(b) apply, the Secretary of State may serve a notice on the fund holder and relevant persons, specifying— (a) the ground in paragraph (1)(b) relied upon, (b) the person to whom the fund assets are to be transferred, which may include the Secretary of State, (c) the proposed date of the transfer, which must be reasonable, (d) the fact that the offshore decommissioning fund must be closed as soon as reasonably practicable after the date of that transfer, (e) a date by which a relevant person must make representations. (4) The Secretary of State must consider representations received before the date specified under paragraph (3)(e). (5) The Secretary of State must notify the fund holder and the relevant persons notified under paragraph (3), within a reasonable period of time, whether having considered the representations, the Secretary of State has determined that— (a) a transfer of fund assets and early closure of the fund should proceed as the notice under paragraph (3) had proposed, (b) a transfer of fund assets and early closure of the fund should proceed with specified modifications to the matters set out in the notice served under paragraph (3), or (c) no transfer of fund assets or early closure of the fund should occur at the relevant time. (6) Fund assets may not be transferred to a person under this regulation, unless that person is to hold them for the purpose of providing security for decommissioning costs in respect of some or all of the covered offshore infrastructure. (7) Where an offshore decommissioning fund is closed under this regulation, the post operations fund administration costs for which a payment may be claimed under regulation 25 may only be the costs incurred for the period ending on the date of the transfer of fund assets prior to closure.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.