{
  "url": "https://openlegislation.uk/climate-change-agreements-administration-regulations-2012/regulation-12A",
  "json_url": "https://openlegislation.uk/climate-change-agreements-administration-regulations-2012/regulation-12A.json",
  "legislation": "uksi/2012/1976",
  "legislation_title": "The Climate Change Agreements (Administration) Regulations 2012",
  "legislation_url": "https://openlegislation.uk/climate-change-agreements-administration-regulations-2012",
  "path": "regulation/12A",
  "kind": "regulation",
  "number": "12A",
  "heading": "Terms to be included in an umbrella agreement relating to the buy-out fee",
  "text": "(1) This regulation applies to an umbrella agreement if it contains terms corresponding with the terms set out in regulation 12(2).\n(2) The terms must provide that, where the administrator’s finding is of a failure to meet a target for target period 3 , target period 4 , target period 5 or target period 6, the fee is to be calculated in accordance with paragraph (3) or (4).\n(3) If the circumstances set out in regulation 12(2)(a)(i) apply, the amount of the fee is—\nA x (W - S)\nwhere—\n(a) A is £14 for target periods 3 and 4, £18 for target period 5, or £25 for target period 6;\n(aa) where the finding is of a failure to meet a target for target period 7, 8 or 9, A is the number of pounds sterling which is equal to the result of the application of the formula in regulation 12(3) in respect of that target period, rounded up or down to the nearest pound;\n(b) W in units of tCO2 equivalent represents the amount by which the emissions for the target period exceed the target;\n(c) S, for target periods 1 to 4, in units of tCO2 equivalent represents any surplus; ...\n(d) S, for target periods 5 , 6 and 7, is zero;\n(e) S, for target period 8, in units of tCO2 equivalent represents any surplus in respect of target period 7; and\n(f) S, for target period 9, in units of tCO2 equivalent represents any surplus in respect of target period 7 or 8.\n(4) If the circumstances set out in regulation 12(2)(a)(ii) apply, the amount of the fee is—\nA x W\nwhere—\n(a) A is £14 for target periods 3 and 4, £18 for target period 5, or £25 for target period 6; ...\n(aa) where the finding is of a failure to meet a target for target period 7, 8 or 9, A is the number of pounds sterling which is equal to the result of the application of the formula in regulation 12(3) in respect of that target period, rounded up or down to the nearest pound; and\n(b) W in units of tCO2 equivalent represents the amount by which the emissions for the target period exceed the target.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 12A inserted (30.12.2016) by The Climate Change Agreements (Administration) (Amendment and Related Provision) Regulations 2016 (S.I. 2016/1189), regs. 1(1), 4"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 12A(2) substituted (1.10.2020) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2020 (S.I. 2020/958), regs. 1(2), 2(4)(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in reg. 12A(2) substituted (31.12.2023) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2023 (S.I. 2023/1226), regs. 1(2), 2(4)(a)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Formula in reg. 12A(3) substituted (1.10.2020) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2020 (S.I. 2020/958), regs. 1(2), 2(4)(b)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Reg. 12A(3)(a)-(d) substituted for reg. 12A(3)(i)-(iv) (31.12.2023) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2023 (S.I. 2023/1226), regs. 1(2), 2(4)(b)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Reg. 12A(3)(aa) inserted (1.1.2026) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2025 (S.I. 2025/813), regs. 1(1), 2(9)(a)(i) (with reg. 4)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Word in reg. 12A(3)(c) omitted (1.1.2026) by virtue of The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2025 (S.I. 2025/813), regs. 1(1), 2(9)(a)(ii) (with reg. 4)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in reg. 12A(3)(d) substituted (1.1.2026) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2025 (S.I. 2025/813), regs. 1(1), 2(9)(a)(iii) (with reg. 4)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Reg. 12A(3)(e)(f) inserted (1.1.2026) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2025 (S.I. 2025/813), regs. 1(1), 2(9)(a)(iv) (with reg. 4)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Formula in reg. 12A(4) substituted (1.10.2020) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2020 (S.I. 2020/958), regs. 1(2), 2(4)(c)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Reg. 12A(4)(a)(b) substituted for reg. 12A(4)(i)-(ii) (31.12.2023) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2023 (S.I. 2023/1226), regs. 1(2), 2(4)(c)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Word in reg. 12A(4)(a) omitted (1.1.2026) by virtue of The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2025 (S.I. 2025/813), regs. 1(1), 2(9)(b)(i) (with reg. 4)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Reg. 12A(4)(aa) inserted (1.1.2026) by The Climate Change Agreements (Administration and Eligible Facilities) (Amendment) Regulations 2025 (S.I. 2025/813), regs. 1(1), 2(9)(b)(ii) (with reg. 4)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2012/1976/regulation/12A",
    "retrieved_at": "2026-10-29T01:23:45.300644+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}