12.— Section 72 of the Act of 1996 is amended—

(a) by substituting the following subsections for subsection (3):

“(3) The amount of the levy shall be specified in the regulations under subsection (2) but shall not exceed an amount of 70 cent for each plastic bag supplied to a customer.

(3A) The Minister may, subject to subsections (3) and (3B), amend the amount of the levy specified in regulations under subsection (2) for the purposes of promoting—

(a) the prevention of the generation of waste, and

(b) the reduction of the use of plastic bags,

once and once only in each financial year beginning with the financial year following the financial year in which the Environment (Miscellaneous Provisions) Act 2011 is passed.

(3B) The amount to which the amount of the levy standing specified in regulations under subsection (2) may be amended shall, subject to subsection (3C), be obtained by multiplying the amount of the levy standing specified for the time being in regulations made under subsection (2) by the figure specified in subsection (3D) and if—

(a) the amount so obtained is not a whole number of cent, and

(b) the Minister considers it appropriate to do so and specifies in the regulations that the amount has so been rounded,

rounding (up or down as he or she thinks fit) the amount to the nearest whole number of cent.

(3C) The Minister may, where he or she considers it appropriate for the purposes referred to in subsection (3A), add, to the amount obtained in accordance with subsection (3B), a figure which is not greater than 10 per cent of the amount of the levy standing specified in regulations under subsection (2) and if—

(a) the amount so obtained is not a whole number of cent, and

(b) the Minister considers it appropriate to do so, and specifies in the regulations that the amount has been so rounded,

rounding (up or down as he or she thinks fit) the amount to the nearest whole number of cent.

(3D) The figure mentioned in subsection (3B) is the quotient, rounded up to 3 decimal places, obtained by dividing the consumer price index number relevant to the financial year in which the regulations amending the levy are made by the consumer price index number relevant to the financial year in which the regulations amending the levy were last made.”,

(b) by deleting subsection (4E),

(c) by deleting subsections (7) and (8), and

(d) in subsection (12)(a)(ii), by deleting clause (II).