Finance Act 2012

7 (1) Paragraph 48 (definition of “climate change agreement”: combination of umbrella and underlying agreements) is amended as follows. U.K.

(2) In sub-paragraph (3)(c)—

(a) for “five-yearly” substitute “ seven-yearly ”, and

(b) after “Secretary of State” insert “ or the Administrator ”.

(3) In sub-paragraph (4)—

(a) in paragraph (a), for “Secretary of State” substitute “ Administrator ”,

(b) omit the “and” after paragraph (c), and

(c) after paragraph (d) insert “, and

(e) containing any terms required by regulations falling within paragraph 52E.”

(4) In sub-paragraph (5)—

(a) for paragraph (b) substitute—

“(b) entered into with the Administrator,”,

(b) omit paragraph (c),

(c) omit the “and” after paragraph (d), and

(d) after paragraph (e) insert “, and

(f) containing any terms required by regulations falling within paragraph 52E.”