Interpretation
2. In these Regulations:
“the Act” (“y Ddeddf”) means the New Roads and Street Works Act 1991;
“chargeable job”(“gwaith am dâl”) means an item of work, the costs of which are recoverable under the provisions of Part III of the Act;
“claimant”(“hawlydd”) means an authority, body or person who is entitled to recover costs under Part III of the Act;
“costs”(“costau”) means costs or expenses referred to in section 96(1) of the Act as being recoverable by an authority, body or person under Part III of the Act;
“cost centre” (“canolfan gost”) means a unit of financial accountability identifiable within a claimant’s management accounts and responsible for specific activities within a claimant’s organisation;
“cost of capital” (“cost cyfalaf”) means the cost of capital calculated by reference to the rate of return which is prescribed either by legislation, or by the relevant regulator in respect of the claimant’s regulated activities (whether or not the chargeable job is such an activity) or, if no such rate is prescribed, by reference to a rate which is two per cent above the public sector discount rate as set by the Treasury from time to time;
“direct costs” (“costau uniongyrchol”) means those costs described in regulation 5;
“licence” (“trwydded”) means any form of authorisation, permission, or appointment, by which the claimant is authorised to carry out regulated activities;
“overheads” (“gorbenion”) means those costs described in regulation 6;
“regulated activities” (“gweithgareddau rheoleiddiedig”) means activities which are authorised or regulated by a licence and supervised by the relevant regulator;
“relevant regulator” (“rheoleiddiwr perthnasol”) means a person, independent of the claimant, charged with supervising the claimant’s regulated activities and ensuring a claimant complies with the terms of the licence authorising those activities; and
“support services” (“gwasanaethau cymorth”) means services provided from within an organisation in support of activities which incur direct costs.