The Electricity and Gas (Determination of Turnover for Penalties) Order 2002

Interpretation

2.  In this Order—

• “applicable turnover” means the amounts, ascertained in conformity with normal accounting practice in Great Britain, which are—

  (a)

  derived by the licence holder from the provision of goods and services falling within all the licence holder’s ordinary activities (whether or not such activities are authorised by a licence); and

  (b)

  computed on an accruals basis so that the amounts referred to in paragraph (a) above relating to the period for which applicable turnover is being determined are taken into account, without regard to the date of invoice or receipt of payment,

  after deduction of trade discounts, value added tax and any other taxes based on such amounts;

• “business year” means a period of more than six months in respect of which a licence holder publishes accounts or, if no such accounts have been published for the period, prepares accounts;

• “date of the notice” means the date on which the Authority(1) gives notice under section 27A(3) of the Electricity Act or section 30A(3) of the Gas Act;

• “the Electricity Act” means the Electricity Act 1989; and

• “the Gas Act” means the Gas Act 1986.

(1)

The Authority was established under section 1(1) of the Utilities Act 2000.