# The Carbon Dioxide Transport and Storage (Licensed Operators) Administration (England and Wales) Rules 2025, Rule 56: Debt in foreign currency


(1) A proof for a debt incurred or payable in a currency other than sterling must state the amount of the debt in that currency.
(2) The T&S administrator must convert all such debts into sterling at a single rate for each currency determined by the T&S administrator by reference to the exchange rates prevailing on the date on which the T&S company entered T&S administration.
(3) On the next occasion when the T&S administrator communicates with the creditors the T&S administrator must advise them of any rate so determined.
(4) A creditor who considers that the rate determined by the T&S administrator is unreasonable may apply to the court.
(5) If, on hearing the application, the court finds that the rate is unreasonable it may itself determine the rate.

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Source: https://www.legislation.gov.uk/uksi/2025/1135/rule/56 (the official version)
Page: https://openlegislation.uk/carbon-dioxide-transport-and-storage-licensed-operators-administration-england-and-wales-rules-2025/rule-56
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.