5. (1) In this section, “competent authority regulations” means regulations made by the competent authority under subsection (4).

(2) The airport authority shall be liable to pay a monthly, biannual or annual charge (in this section referred to as the “airport levy”) in respect of the costs incurred by the competent authority in the performance of its functions under the Aircraft Noise Regulation, this Act and the Act of 2000.

(3) The airport levy shall be paid to the competent authority on or before the date prescribed for the purpose in the competent authority regulations, in respect of the period concerned and in the manner prescribed for the purpose in such regulations.

(4) The competent authority shall, as soon as is practicable after the commencement of this section, prescribe by regulations the airport levy to be paid having regard to the costs incurred or reasonably expected to be incurred by the competent authority in the performance of its functions under the Aircraft Noise Regulation, this Act and the Act of 2000.

(5) The amount of the airport levy shall not exceed those sums necessary to fund the competent authority in the performance of its functions under the Aircraft Noise Regulation, this Act and the Act of 2000 and may only be applied by the competent authority towards such funding or towards meeting any other costs reasonably arising in the course of the performance of such functions.

(6) Any surplus of airport levy income over costs referred to in this section incurred over a particular local financial year of the competent authority shall be—

(a) retained by the competent authority to be offset against such costs for the subsequent such year, or

(b) returned to the airport authority.

(7) The competent authority may recover, as a simple contract debt in any court of competent jurisdiction, from the airport authority the airport levy (or any part thereof) due and owing to it.

(8) The competent authority shall ensure that its costs in the performance of its functions under the Aircraft Noise Regulation, this Act and the Act of 2000 are kept to a minimum and are not excessive.

(9) Nothing in this section shall be construed to prejudice the generality of any other provision of this Act under which the airport authority may be required to pay a fee.