These Regulations make amendments using powers conferred by section 8(1) of, and paragraph 21 of Schedule 7 to, the European Union (Withdrawal) Act 2018 (c.16) in order to address failures of retained EU law to operate effectively and other deficiencies (in particular, under sections 8(2)(c) and (d)).
Regulations 3 and 10 amend the definition of climate change legislation used in the licensing regime for the storage of carbon dioxide, to reflect UK legislation in respect of greenhouse gas emission trading schemes. This definition is used to clarify the obligations on operators for the offset of emissions in relation to post-closure of a storage site, notification of leakages and financial security. In specific cases, others also have obligations for the offset of emissions: the Oil and Gas Authority, in relation to storage permit revocation and notification with regard to financial security, and the appropriate Minister, when a licence is terminated and the licence holder’s obligations are transferred to the Minister. Regulations 4 and 11 omit reference to an exception to the definition of “legislation” that is no longer required due to the changes made by regulations 3 and 10.
Regulations 5-7 and 9 change references in the amended legislation from “exit day” to “IP completion day”.
Source: HMSO.