National Oil Reserves Agency Act 2007

44J.

F89[Discharge of biofuel obligation by payment.

44J. (1) Where the biofuel obligation notified under subsection (1) of section 44I is not discharged, in whole or in part, in respect of the obligated party concerned, in accordance with, and in the period specified in, subsection (3) of that section, or, as the case may be, under subsection (4) of that section, the obligated party shall pay to the Agency an amount in respect of the shortfall (in this section referred to as the "buy-out charge") calculated in accordance with the formula

X x Y

where

X is the amount of the biofuel obligation notified under section 44I(1) which remains undischarged, and

Y is the price per litre of biofuel prescribed in accordance with this section (in this section referred to as the "buy-out price").

(2) For the purposes of subsection (1), the Agency shall give a notice in such form as the Agency determines to the obligated party concerned within F90[14 days] after the end of the period specified in section 44I(3), stating

(a) the amount of the biofuel obligation notified under section 44I(1) which remains undischarged, whether in whole or in part,

(b) the amount of the buy-out charge in respect of the amount of the biofuel obligation which remains undischarged,

(c) the date by which the buy-out charge is to be paid, which date shall not be less than F90[14 days] from the date of the notice, and

(d) the consequences of non-payment of the buy-out charge in accordance with this section, including recovery of the amount as a simple contract debt, the incurring of interest on the amount and the payment of a late discharge fee.

(3) If all or any part of the buy-out charge notified under subsection (2) is not paid on or before the date specified in the notice as the date by which the buy-out charge is to be paid, interest on the unpaid amount accrues at the rate prescribed under this section from that date to the date of payment.

(4) The Agency may recover, as a simple contract debt in any court of competent jurisdiction, from the obligated party by whom it is payable, any amount due and owing to it under this section in respect of the buy-out charge and any interest that has accrued on that amount.

(5) The Minister may make regulations providing for all or any of the following matters:

(a) subject to subsection (7) and having considered any representations made under paragraph (a)(ii) of that subsection and subject to the prior consent of the Minister for Finance, the amount of the buy-out price, or any variation of that amount from time to time, having regard to

(i) the market prices for road transport fuel and the effect of the level of the buy-out price on those market prices,

(ii) the wholesale availability and market prices for biofuel, and

(iii) the level of the buy-out price required in order for the biofuel obligation to operate effectively;

(b) subject to section 44V, the rate of interest on amounts of buy-out charge not paid when due;

(c) the amount of the late discharge fee.

(6) Any moneys received by the Agency under this section shall be paid to the Exchequer.

(7) (a) Before making any regulations providing for the amount of the buy-out price, or any variation of that amount from time to time, the Minister

(i) shall consult with the persons specified in paragraph (b) and may consult with such other persons as he or she considers appropriate, and

(ii) following consultation under subparagraph (i), shall give not less than 3 months notice of the proposed regulations by publishing a notice on the internet and by such other means as the Minister considers appropriate inviting persons to make representations in writing to the Minister in relation to the proposed regulations within 28 days from the date of publication on the internet.

(b) For the purposes of paragraph (a), the Minister shall consult with

(i) the Minister for Finance,

F91[(ia) the Minister for Finance,]

F92[(ii) the Minister for Transport, Tourism and Sport,]

(iii) the Agency,

(iv) the Environmental Protection Agency,

(v) the National Standards Authority of Ireland, and

(vi) Sustainable Energy Ireland The Sustainable Energy Authority of Ireland.]

Annotations

Amendments:

F89

Inserted (1.07.2010) by Energy (Biofuel Obligation and Miscellaneous Provisions) Act 2010 (11/2010), s. 3, S.I. No. 322 of 2010.

F90

Substituted (16.04.2012) by Energy (Miscellaneous Provisions) Act 2012 (3/2012), s. 21(3), S.I. No. 122 of 2012.

F91

Inserted (1.08.2020) by National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020 (6/2020), s. 23(a), S.I. No. 280 of 2020.

F92

Substituted (1.08.2020) by National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020 (6/2020), s. 23(b), S.I. No. 280 of 2020.

Modifications (not altering text):

C9

Functions transferred and terms “Minister for Finance” and “Department of Finance” construed (20.09.2011) by Finance (Transfer of Departmental Administration and Ministerial Functions) (No. 2) Order 2011 (S.I. No. 480 of 2011), arts. 2, 3, 4 and sch., in effect as per art. 1(2).

2. (1) The administration and business in connection with the exercise, performance or execution of any functions transferred by this Order are transferred to the Department of Public Expenditure and Reform.

(2) References to the Department of Finance contained in any Act or any instrument made thereunder and relating to any administration and business transferred by paragraph (1) shall, from the commencement of this Order, be construed as references to the Department of Public Expenditure and Reform.

3. The functions conferred on the Minister for Finance by or under—

(a) the provisions of the enactments specified in the Schedule, and

...

are transferred to the Minister for Public Expenditure and Reform.

4. References to the Minister for Finance contained in any Act or instrument made under an Act and relating to any functions transferred by this Order shall, from the commencement of this Order, be construed as references to the Minister for Public Expenditure and Reform.

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SCHEDULE

Enactments

Number and Year

(1)

Short Title

(2)

Provision

(3)

...

...

...

No. 7 of 2007

National Oil Reserves Agency Act 2007

Sections 44(1)(a), 44B(3)(b)(ii), 44D(4)(b)(i), 44J(5)(a) and (7)(b)(i) and 44T(1)

...

...

...

Editorial Notes:

E27

Power pursuant to section exercised (1.01.2011) by National Oil Reserves Agency Act 2007 (Biofuel Obligation Buy-out Charge) Regulations 2010 (S.I. No. 644 of 2010), in effect as per reg. 1(2).