42Change to liability for energy savings shortfall penalty due to amended assessment

42 Change to liability for energy savings shortfall penalty due to amended assessment

42 Change to liability for energy savings shortfall penalty due to amended assessment

(1) An energy savings shortfall penalty payable because of the amendment of an assessment is taken to be payable on the later of the following dates—

(a) the date 7 days after the day on which the Scheme Regulator gave the scheme participant notice of the amended assessment,

(b) the date on which an energy savings shortfall penalty would have been payable under the original assessment.

(2) The Scheme Regulator may extend the period for payment of an energy savings shortfall penalty payable as a result of the amendment of an assessment.

(3) A scheme participant whose liability for an energy savings shortfall penalty is reduced due to an amended assessment is entitled to a refund of the excess shortfall penalty paid under the previous assessment.

(4) If an assessment has been amended, the Scheme Regulator may, within one year after the day on which an energy savings shortfall penalty became payable under the amended assessment, further amend the assessment to reduce the scheme participant’s liability.