- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
21.—(1) This regulation applies where the Authority cancels a qualifying project from a tender exercise in accordance with regulation 20(1) (whether or not that tender exercise in respect of that qualifying project is re-run or is determined as failed).
(2) Where one or more of the events in paragraphs (b), (c), (d), (e), (f), (g), (h), (i), (j), (k) and (s) of Schedule 7 are occurring or have occurred in respect of a qualifying project, the Authority shall, in accordance with its cost recovery methodology–
(a)not repay wholly or in part any payment that has been made by a bidder, qualifying bidder, preferred bidder or successful bidder in accordance with these Regulations, including any interest which may have been accrued on the whole or part of that payment;
(b)repay to the developer wholly or in part the payment that has been made in accordance with regulation 7(1)(a), including any interest which may have been accrued on the whole or part of that payment; and
(c)release to the developer or person approved by the Authority with whom the developer has made arrangements, wholly or in part the security that has been provided in accordance with regulation 7(1)(b), including any interest which may have been accrued where that security provided is a monetary deposit.
(3) Where one or more of the events in paragraphs (a), (l), (m), (n), (o), (p), (q) and (r) of Schedule 7 are occurring or have occurred in respect of a qualifying project, the Authority shall, in accordance with its cost recovery methodology–
(a)repay to a bidder, qualifying bidder, preferred bidder or successful bidder wholly or in part any payment that has been made by that bidder, qualifying bidder, preferred bidder or successful bidder in accordance with these Regulations, including any interest which may have been accrued on the whole or part of that payment;
(b)not repay wholly or in part the payment that has been made in accordance with regulation 7(1)(a), including any interest which may have been accrued on the whole or part of that payment; and
(c)determine that the security provided in accordance with regulation 7(1)(b) shall be forfeited wholly or in part, including any interest which may have been accrued where that security provided is a monetary deposit.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: