In these Regulations—

• “the Commissioners” means the Commissioners of Customs and Excise;

• “electronic return system” has the meaning given in regulation 25(4B) of the VAT Regulations;

• “incentive payment” has the meaning given in regulation 3 below;

• “prescribed accounting period” has the meaning given in regulation 2(1) of the VAT Regulations;

• “relevant return” means the return referred to in regulation 3(1)(a) below;

• “taxable person” has the meaning given in section 3(1) of the Value Added Tax Act 19942;

• “VAT Regulations” means the Value Added Tax Regulations 19953.