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Paragraph 3 Exceptions to the charging principles

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Subject to sub-paragraph (2), for specific investment projects completed—

(a)

since 15th March 1988; or

(b)

following the coming into force of these Regulations,

the infrastructure manager may set or continue to set higher charges on the basis of the long-term costs of the project.

(2)

For sub-paragraph (1) to apply—

(a)

the effect of the higher charges must be to increase the efficiency or cost-effectiveness of the project; and

(b)

the project could not otherwise have been undertaken without the prospect of such higher charges.

(3)

A charging arrangement to which sub-paragraph (1) applies may incorporate agreements on the sharing of the risk associated with new investments.