# The Climate Change Agreements (Administration) (Amendment and Related Provision) Regulations 2016, Regulation 3: Amendment to Regulation 12 of the 2012 Regulations


(1) Regulation 12 of the 2012 Regulations (terms to be included in an underlying agreement relating to the buy-out fee) is amended as follows.
(2) For paragraph (2)(c), substitute—
“(c) if sub-paragraph (a)(i) applies, the amount of the fee is—
A×( W−S ) where—
(i) A is £12 where the finding is of a failure to meet a target for target period 1 or target period 2, or £14 where the finding is of a failure to meet a target for target period 3 or target period 4;
(ii) W in units of tCO2 equivalent represents the amount by which the emissions for the target period exceed the target; and
(iii) S in units of tCO2 equivalent represents any surplus;”.
(3) For paragraph (2)(d), substitute—
“(d) if sub-paragraph (a)(ii) applies, the amount of the fee is—
A×W where—
(i) A is £12 where the finding is of a failure to meet a target for target period 1 or target period 2, or £14 where the finding is of a failure to meet a target for target period 3 or target period 4; and
(ii) W in units of tCO2 equivalent represents the amount by which the emissions for the target period exceed the target;”.

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Source: https://www.legislation.gov.uk/uksi/2016/1189/regulation/3 (the official version)
Page: https://openlegislation.uk/climate-change-agreements-administration-amendment-and-related-provision-regulations-2016/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.