The CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) Regulations 2012

Payments

9.—(1) Payments under these Regulations must be made into a bank account nominated—

(a) for allowances, by the Secretary of State, and

(b) for fees, by the Environment Agency.

(2) Payments under these Regulations must be made—

(a) by electronic transfer from an account with a credit institution,

(b) accompanied by information which identifies the account holder making the payment, and

(c) in sterling.

(3) Payment is deemed to have been made for allowances when the Secretary of State receives cleared funds.

(4) Payment is deemed to have been made for fees when the Environment Agency receives cleared funds.

(5) In this regulation “credit institution” means—

(a) an institution which has permission under Part 4 of the Financial Services and Markets Act 2000(1) to carry on the regulated activity of accepting deposits and persons authorised to carry on similar activities under the law of a country other than the United Kingdom, or

(b) an electronic money institution as defined by article 2 of Directive 2009/110/EC of the European Parliament and of the Council on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC(2).

(1)

2000 c.8.

(2)

O.J. No.L.267, 10.10.2009, p.7.