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

if the section 7 licence authorises activities within section 2(2)(a), the person who granted any associated licence under section 18 of the Energy Act 2008, and

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.