Regulation 54 Special utility schemesI1

This regulation applies at any time after a special utility scheme has taken effect under paragraphs 29(4) and 29(5) of the Act but before the end of the period specified for which it is to have effect under paragraph 29(3) of the Act.

If the Commissioners are satisfied that there will be no risk to the revenue, they may agree with the utility in question to amend the scheme or terminate it early.

The Commissioners may terminate the scheme early if the utility in question—

Termination under paragraph (3) shall take effect from such time as the Commissioners shall state in a written notice served by them for the purposes of that paragraph on the utility in question or on any relevant representative referred to in regulation 57 (representatives: incapacity, insolvency, etc.).

The Commissioners shall not state a time in that written notice that is earlier than when it is served under paragraph (4).

Paragraph (5) shall not preclude the Commissioners from recovering by or under the Act any CCL that would have been due at any time up to the time so stated but for the special utility scheme having effect up to that time.

A special utility scheme shall not be either amended or terminated early except in accordance with this regulation.