Regulation 7 Repayment or credit of the levy under the 2016 Regulations

(1)

This regulation applies where the total amount of the levy under the 2016 Regulations for the 2016 charging period exceeds the leviable costs in respect of that period.

(2)

Where this regulation applies, the OGA must divide the leviable costs by the total amount of the levy to 3 decimal places to give the relevant multiplier.

(3)

The OGA must then adjust the levy payable by a relevant person (“the original levy”) by multiplying the amount of the original levy by the relevant multiplier to give the new levy figure payable by that person (“the new levy”).

(4)

The new levy is to be substituted for the original levy in any notification given, or to be given, under regulation 4 of the 2016 Regulations, and regulation 5 of the 2016 Regulations is to be construed accordingly.

(5)

If a relevant person to whom a notification has been given under regulation 4 of the 2016 Regulations has paid more than the new levy—

(a)

where that person is liable to pay a levy under regulation 3 of these Regulations, the OGA must, by 31st December 2017, reduce the amount of that liability by the difference between the new levy and the amount actually paid (after deducting any repayment of this amount that has already been made) or pay the difference to the person;

(b)

in all other cases, the OGA must, by 31st December 2017, pay the difference to the person.

(6)

In this regulation—

“2016 charging period” means the period beginning on 1st April 2016 and ending on 31st March 2017;
“the 2016 Regulations” means the Oil and Gas Authority (Levy) Regulations 2016^f1;
“relevant person” means a person who, in respect of the 2016 charging period, is liable to pay a levy under regulation 3 of the 2016 Regulations (and includes a person who has discharged that liability in whole or in part).

Annotations

Footnotes

f1: S.I. 2016/318, saved and given effect as if made under sections 13, 14 and 82 of the Energy Act 2016 by S.I. 2016/920.