Regulation 24 Change in ownership of installation
This regulation applies where ownership of a closure accredited installation is transferred to another person (“the new owner”).
No annual closure payment is to be made after the change in ownership except in accordance with this regulation.
The current closure participant must notify the Department, in accordance with regulation 29, that ownership has been transferred.
The new owner must comply with the notification requirements.
The notification requirements are that the new owner has—
notified the Department of the change in ownership,
provided the Department with any of the information set out in Schedule 2 that the Department has required, within the time required.
Where ownership is transferred to more than one person, the Department may require that—
the notification is by only one of those owners,
that owner has the authority from all other owners to be the new closure participant, and
that owner provides to the Department, in such form and manner as the Department may require, evidence of that authority.
The Department must, within 28 days of completion of the notification requirements to the satisfaction of the Department, review the closure accreditation.
Where the Department is satisfied that the installation should continue to be closure accredited with the new owner as the closure participant—
it must send the new owner an updated statement of closure eligibility, setting out the information referred to in regulation 7(5),
annual closure payments are payable for the remainder of the tariff lifetime, having regard to regulation 16 in respect of the year in which ownership is transferred.
Where the Department is not so satisfied, accreditation is revoked on the date the Department considers appropriate.
If, within a period of 12 months from the transfer of ownership, paragraph (3) and the notification requirements have not been complied with, the Department must revoke the closure accreditation.
The period specified in paragraph (10) may be extended by the Department where the Department considers it is just and equitable to do so, including where the new owner has complied with the notification requirements, but the current closure participant has failed to comply with paragraph (3).