S.I. No. 214/2009 - National Oil Reserves Agency Act 2007 (Returns and Levy) (Amendment) Regulations 2009

S.I. No. 214 of 2009

NATIONAL OIL RESERVES AGENCY ACT 2007 (RETURNS AND LEVY) (AMENDMENT) REGULATIONS 2009

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 12th June, 2009.

I, EAMON RYAN, Minister for Communications, Energy and Natural Resources in exercise of the powers conferred on me by section 44 of the National Oil Reserves Agency Act 2007 (No. 7 of 2007) and having taken due account of subsection (3) of that section, hereby make the following regulations:

Citation and commencement.

1. These Regulations may be cited as the National Oil Reserves Agency Act 2007 (Returns and Levy) (Amendment) Regulations 2009.

Amendment of National Oil Reserves Agency Act 2007 (Returns and Levy) Regulations 2007.

2. With effect from 1 June 2009, the National Oil Reserves Agency Act 2007 (Returns and Levy) Regulations 2007 ( S.I. No. 567 of 2007 ) are amended—

(a) by substituting the following for paragraph (1) of Regulation 4:

“4. (1) The rate of levy—

(a) payable to the Agency by each oil company and oil consumer by virtue of Part 5 of the National Oil Reserves Agency Act 2007 (No. 7 of 2007), and

(b) payable per litre of relevant disposals of petroleum products for each category of such products that are specified in the second column of Schedule 1,

is the rate specified in the third column of that Schedule opposite the category of petroleum products concerned.”,

and

(b) by substituting the following for Schedule 1 to those Regulations:

Regulation 4(1).

“SCHEDULE 1 RATE OF LEVY

”.

GIVEN under my Official Seal,

29 May 2009

EAMON RYAN.

Minister for Communications, Energy and Natural Resources.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation)

These Regulations provide for the variation in the amount of the National Oil Reserves Agency (NORA) levy to be paid with effect from 1st September 2009.