Gas Levy Act 1981
2.—(1) In this regulation any reference to a section followed by a number is a reference to the section bearing that number in the Gas Levy Act 1981(1).
(2) In section 2 (rate of levy) there shall be inserted, after subsection (4), subsection (4A) as follows—
“(4A) The rate of levy may be specified by reference to either therms or gigajoules, provided that the rate for any year subsequent to the year 1998—1999 shall be specified in gigajoules.”.
(3) Until the expiry of 31st December 1999—
( )sections 3(3) (which specifies how the return for the payment of the gas levy is to be expressed) and 4 (payment of levy where gas is stored in natural reservoirs) shall have effect as if “(or gigajoules, as the case may be,)” were inserted after the word “therms” in each place where it occurs.
(4) With effect from 1st January 2000—
(a)in sections 3(3) and 4, for the word “therms” in each place where it occurs, there shall be substituted the word “gigajoules”; and
(b)in section 7(2), the definition of “therm” shall be omitted.
1981 c. 3; section 3 was substituted by paragraph 3 of Schedule 6 to the Gas Act 1986 (c. 44).