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The Fossil Fuel Levy Regulations 1990
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Investment of sums collected
30.—(1) Any money received by the Director pursuant to any of the preceding provisions of these Regulations (other than regulation 29(1)) shall, until such time as it is required for the making of payments pursuant to regulation 28, be invested in the approved manner.
(2) All relevant interest payments shall, until they are required for the making of payments pursuant to regulation 32, be invested in the approved manner.
(3) For the purposes of this regulation, any money or relevant interest payment is invested in the approved manner if, utilising one or more of the Bank of England and banks which are members of the Committee of London and Scottish Bankers, it is–
(a)invested on the sterling United Kingdom inter-bank money market; or
(b)placed on deposit in sterling in an interest bearing account or accounts.
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