National Oil Reserves Agency Act 2007

59.

Minister’s power to make regulations relating to returns.

59.— (1) The Minister may make regulations—

(a) for the purposes of Parts 4 and 5, requiring the Agency, oil companies and oil consumers to supply the Minister with written returns in each month, and

(b) for the purposes of F121[an oil stocks agreement], requiring persons holding oil stocks in the State on behalf of another state in accordance with that agreement to supply the Minister with written returns as and when required by the Minister.

(2) Regulations under this section may, among other things, make provision for the following matters:

(a) the information to be contained in returns;

(b) requirements relating to the certification of returns;

(c) the dates by which returns are to be supplied;

(d) the form in which returns are to be supplied;

(e) for the purpose of section 61, procedures for making representations to the Minister.

(3) A person is guilty of an offence under this section if the person—

(a) fails to supply for a period of 3 consecutive months from the applicable date required under subsection (2)(c) a return in such form and containing such information as is required under subsection (2)(a), or

(b) provides in a return information that is false or misleading in a material respect and that the person knows is false or misleading.

Annotations

Amendments:

F121

Substituted (19.12.2012) by European Union (Oil Reserves) Regulations 2012 (S.I. No. 541 of 2012), reg. 12.

Editorial Notes:

E35

Power pursuant to section exercised (1.08.2007) by National Oil Reserves Agency Act 2007 (Returns and Levy) Regulations 2007 (S.I. No. 567 of 2007), in effect as per reg. 1(2); subsequently amended (29.05.2009) by National Oil Reserves Agency Act 2007 (Returns and Levy) (Amendment) Regulations 2009 (S.I. No. 214 of 2009) and (16.06.2009) by National Oil Reserves Agency Act 2007 (Returns and Levy) (Amendment) (No. 2) Regulations 2009 (S.I. No. 220 of 2009).