Electricity Infrastructure Investment Act 2020
57Variation of contribution determinations
Start here
Get a plain-English read of 57
Turn the raw legal text into a practical explanation grounded in Electricity Infrastructure Investment Act 2020.
57 Variation of contribution determinations
57 Variation of contribution determinations
(1) The regulator may, by further order published in the Gazette, vary a contribution determination if it appears to the regulator that—
(a) the scheme financial vehicle will not be able to meet its liabilities as they fall due, or
(b) the cash balance of the Fund has fallen, or is likely to fall, below the minimum prudent cash balance specified in the determination.
(2) The regulator is to publish guidelines on its website about the exercise of the regulator’s functions under this section.
(3) An order varying a contribution determination may be made before or during the financial year to which the determination applies or during the following financial year, but not later.