The Carbon Capture Revenue Support (Directions, Eligibility and Counterparty) Regulations 2024

Directions ceasing to have effect

6.—(1) A direction given to a carbon capture counterparty under section 68(1) of the Act ceases to have effect (and any offer made by the carbon capture counterparty pursuant to it lapses), if—

(a) the carbon capture counterparty receives from the eligible carbon capture entity to whom the offer is made, a notice in writing rejecting the offer (which includes any case where a counter-offer is made by the eligible carbon capture entity);

(b) no written acceptance of the offer is received by the carbon capture counterparty from the eligible carbon capture entity to whom the offer is made, by the end of the period within which the carbon capture counterparty requires acceptance of the offer to be received by it; or

(c) the direction is revoked by the Secretary of State pursuant to regulation 7 (Revocation of a direction by the Secretary of State).

(2) Where an offer lapses in the circumstances referred to in paragraph (1), the carbon capture counterparty must forthwith notify the eligible carbon capture entity of that fact.