Regulation 10 Payment of annual closure payments
Annual closure payments are payable in respect of a closure accredited installation in respect of the remainder of the original payment period.
The remainder of the original payment period—
commences on the conversion day of the installation,
ends 20 years from the date of the original tariff start date.
Annual closure payments are to be calculated and paid by the Department.
The first annual closure payment is payable in respect of the period—
commencing on conversion day of the installation, and
ending on the day before the next anniversary of the date of the original tariff start date.
Subsequent annual closure payments are in respect of each subsequent period of 12 months ending on the day before the next anniversary of the original tariff start date. But this is subject to regulation 15.
Annual closure payments are not payable until after the Department is satisfied that the closure participant has submitted an annual declaration that satisfies the requirements of these Regulations.