Part 1Licensing of carbon dioxide transport and storage
Chapter 4Special administration regime
Licence modifications
I146Modification of conditions of licences
1
The Secretary of State may modify the conditions of a T&S company’s licence (“the section 7 licence”) so that they include—
a
conditions relating to the recovery of amounts owed to the Secretary of State by the T&S company by virtue of, or otherwise relating to, financial assistance given by the Secretary of State while a T&S administration order is in force in relation to the T&S company;
b
conditions relating to raising of funds for the purpose of meeting of expenses arising by virtue of the order.
2
The Secretary of State may exercise the power under subsection (1) only if a T&S administration order is in force in relation to the T&S company.
3
Before making a modification under subsection (1), the Secretary of State must consult—
a
the economic regulator,
b
c
such other persons as the Secretary of State considers appropriate.
4
The power to make modifications under subsection (1) includes power to make such incidental, consequential or transitional modifications as the Secretary of State considers necessary or expedient.
5
In subsection (1)(a), “financial assistance” means grants, loans, guarantees or indemnities, or any other kind of financial assistance.
6
For the purposes of this section, a licence under section 18 of the Energy Act 2008 (“the carbon storage licence”) is an “associated licence” in relation to the section 7 licence if—
a
the carbon storage licence is in respect of activities within section 17(2)(a) of that Act, and
b
any part of the site to which the section 7 licence relates is within any place to which the carbon storage licence relates.