National Oil Reserves Agency Act 2007
Regulations relating to levy.
44.— (1) The Minister may, by regulations, provide for all or any of the following matters relating to the levy:
(a) F60[…]
(b) the daily volume of petroleum products to be held by an oil consumer for the purposes referred to in section 38(1)(b);
(c) the manner in which levy assessment notices are to be prepared by the Agency;
(d) the keeping by oil companies and oil consumers of specified records in respect of matters connected with liability to pay the levy and the specifying of the form in which and the period for which such records are to be kept;
(e) the review by the Minister of a levy assessment notice at the request of an oil company or oil consumer that claims that the notice is erroneous;
(f) the time within which a request for such review shall be made and the conditions to be satisfied by an oil company or oil consumer before the request can be made;
(g) F61[…]
(h) the times at which payment becomes due;
(i) the form in which payment is to be made to the Agency by an oil company or oil consumer;
(j) the rate of interest on amounts not paid when due;
(k) such other matters as are necessary for or incidental to the imposition, payment and collection of the levy.
(2) F62[…]
(3) F63[…]
(4) F64[…]
(5) F65[…]
(6) F66[…]
(7) Regulations under subsection (1)(j) may prescribe a formula for determining the interest rate by reference to—
(a) the prevailing Euro Interbank Offered Rate,
(b) an additional rate certified by the F67[Central Bank of Ireland], and
(c) such other additional rate as the Minister considers appropriate taking into account the cost of recovering unpaid levy, including any bank charges the Agency may incur in maintaining a bank overdraft to cover a shortfall in funds arising out of unpaid levy.
Annotations
Amendments:
F60
Deleted (1.08.2020) by National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020 (6/2020), s. 18(a), S.I. No. 280 of 2020.
F61
Deleted (1.07.2010) by Energy (Biofuel Obligation and Miscellaneous Provisions) Act 2010 (11/2010), s. 13(b), S.I. No. 322 of 2010.
F62
Deleted (1.08.2020) by National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020 (6/2020), s. 18(b), S.I. No. 280 of 2020.
F63
Deleted (1.08.2020) by National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020 (6/2020), s. 18(b), S.I. No. 280 of 2020.
F64
Deleted (1.08.2020) by National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020 (6/2020), s. 18(b), S.I. No. 280 of 2020.
F65
Deleted (1.08.2020) by National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020 (6/2020), s. 18(b), S.I. No. 280 of 2020.
F66
Deleted (1.08.2020) by National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Act 2020 (6/2020), s. 18(b), S.I. No. 280 of 2020.
F67
Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 15(14) and sch. 2 part 14 item 27, S.I. No. 469 of 2010.
Editorial Notes:
E16
Power pursuant to section exercised (16.06.2009) by National Oil Reserves Agency Act 2007 (Returns and Levy) (Amendment) (No. 2) Regulations 2009 (S.I. No. 220 of 2009).
E17
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); 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).
E18
Previous affecting provision: 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); references deleted as per F-note above.
E19
Previous affecting provision: subs. (1)(a) amended (1.07.2010) by Energy (Biofuel Obligation and Miscellaneous Provisions) Act 2010 (11/2010), s. 13(a), S.I. No. 322 of 2010; substituted as per F-note above.
E20
Previous affecting provision: power pursuant to section exercised (29.05.2009) by National Oil Reserves Agency Act 2007 (Returns and Levy) (Amendment) Regulations 2009 (S.I. No. 214 of 2009); revoked (16.06.2009) by National Oil Reserves Agency Act 2007 (Returns and Levy) (Amendment) (No. 2) Regulations 2009 (S.I. No. 220 of 2009), reg. 3.