National Oil Reserves Agency Act 2007

44N.

F98[Biofuel levy.

44N.(1) For the purpose of meeting expenses properly incurred or likely to be so incurred, by the Agency and each designated subsidiary in performing functions under this Act, biofuel obligation account holders shall, in accordance with this Part and any regulations made under section 44T pay to the Agency in each month a levy (in this Act referred to as the "biofuel levy") on their relevant disposals of biofuel in the preceding month.

F99[(1A) The rate of the biofuel levy shall be 0.001 per litre of relevant disposals of biofuels.]

(2) A relevant disposal of biofuel is the volume (expressed in litres) of biofuel that in any month a biofuel obligation account holder disposes of by sale or otherwise in the State or consumes in the State.

(3) No biofuel levy is payable by a biofuel obligation account holder on its relevant disposals of biofuel where the biofuel levy has been paid by the biofuel obligation account holder from which it acquired the biofuel.]

Annotations

Amendments:

F98

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

F99

Inserted (1.08.2020) by National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020 (6/2020), s. 24, S.I. No. 280 of 2020.