Draft legislation accessible version
Published 18 December 2023
1. 1 Electricity generator levy: new investment exemption
(1) Part 5 of F(No.2)A 2023 (electricity generator levy) is amended as follows.
(2) In section 280 (key concepts), in subsection (1), in the definition of 바카라 사이트relevant바카라 사이트 (as in relevant generating station)바카라 사이트
(a) omit the 바카라 사이트and바카라 사이트 after paragraph (a), and
(b) after paragraph (b) insert 바카라 사이트, and
(c) to the extent it is not comprised of qualifying new generating plant (see section 311A);바카라 사이트.
(3) After section 311 insert바카라 사이트
1.1 바카라 사이트311A Meaning of 바카라 사이트qualifying new generating plant바카라 사이트
(1) Generating plant is 바카라 사이트qualifying new generating plant바카라 사이트 if it is new generating plant commissioned as part of a qualifying project that meets the new investment condition.
(2) The new investment condition is met in relation to a qualifying project if on 21 November 2023 it was reasonable to conclude, having regard to all of the circumstances, that there is a significant likelihood of the project not proceeding.
(3) The Treasury may by regulations provide for cases in which qualifying projects are to be treated as meeting the new investment condition.
(4) 바카라 사이트Qualifying project바카라 사이트 means a project to commission바카라 사이트
(a) new generating plant for바카라 사이트
(i) a new generating station, or
(ii) an existing generating station which (as a result of the project) is to be wholly or substantially comprised of new generating plant, or
(b) new generating plant that increases the generating capacity of an existing generating station.
(5) Subsection (6) applies where new generating plant that increases the generating capacity of an existing generating station replaces existing generating plant.
(6) Only so much of the new generating plant as represents generating capacity in excess of the capacity of the generating plant it replaces is to be regarded as qualifying new generating plant.바카라 사이트
(4) In section 313 (definitions in this Part), in the table, at the appropriate place insert바카라 사이트
바카라 사이트qualifying new generating plant section 311A바카라 사이트.