Regulation 59 Non-payment and withheld credit: modifications

(1)

Regulation 12(1) (non-payment of invoices: draw down of credit cover) of the Supplier Payment Regulations applies as if, at the end, there were inserted “in respect of a month which is not a standstill month”.

(2)

Regulation 13 (payment of credit notes) of the Supplier Payment Regulations applies as if at the end of paragraph (a), there were inserted “(unless the penalty residual supplier amount is collected in respect of the delivery year beginning on 1st October 2018 in which case the Settlement Body must pay the amount due no later than the end of the 5th working day after the date on which credit note was issued)”.

(3)

Regulation 14(1) (withholding credit payments to suppliers) of the Supplier Payment Regulations applies as if, at the end, there were inserted “or post-standstill payment default”.

(4)

Regulation 15 (payment of withheld credit) of the Supplier Payment Regulations applies as if—

(a)

at the end of paragraph (2) there were inserted “, unless paragraph (4) applies”;

(b)

in paragraph (3)—

(i)

after “paragraph (2)” there were inserted “or where paragraph (4) applies”; and

(ii)

in sub-paragraph (b), at the end, there were inserted “or post-standstill payment default”; and

(c)

after paragraph (3) there were inserted—

“(4)

If both termination trigger events have occurred, the Settlement Body must pay any credit withheld from S.”.