Part 2: Revenue collection contracts Section 15: Regulations about revenue collection contracts
This section sets out the Secretary of State’s power to make regulations relating to revenue collection contracts between a revenue collection counterparty and a nuclear company, and the required parliamentary process for making those regulations.
	Subsection (1) sets out the Secretary of State’s power to make regulations about revenue collection contracts (‘revenue regulations’). The terms of a revenue collection contract would be bilaterally negotiated between the Secretary of State and an eligible nuclear company designated under Part 1. There are a number of sections in this Part which set out the types of provision that may be included in revenue regulations, in particular within sections 16 to 24 inclusive of this Part.
	Subsection (2) defines a revenue collection contract as a contract:
between a revenue collection counterparty and a nuclear company for which a designation was in effect (under section 2(1)) immediately before the contract was entered into;
under which certain payments are to be funded by electricity suppliers;
those payments may be made both before and after the start of generation of electricity by the relevant nuclear project;
and is entered into by the revenue collection counterparty pursuant to a direction from the Secretary of State in accordance with section 18 of this Part.
	Subsection (3) defines further key terms of this part. Subsection (4) makes clear that the provision made by this Part is without prejudice to the generality of the regulation-making power in subsection (1).
	Subsection (5) clarifies certain points relating to the scope of the Secretary of State’s powers to make revenue regulations, such as that regulations can include incidental, supplementary or consequential provision, and can make different provision for different purposes.
	Subsections (6) to (8) provide that revenue regulations must be made by statutory instrument and that:
the first regulations that are made relating to:
Information and advice (section 23)
Functions of the Authority (section 24)
And any regulations relating to:
Designation of a revenue collection counterparty (section 16)
Duties of a revenue collection counterparty (section 17)
Direction to offer to contract (section 18)
Supplier Obligation (section 19)
Payments to electricity suppliers (section 20)
Application of sums held by a revenue collection counterparty (section 21)
Enforcement (section 22)
						must follow the affirmative resolution procedure. Any other regulations must follow the negative resolution procedure.
	Subsection (9) provides that revenue regulations should not be treated as a hybrid instrument. The regulations are expected to confer functions and obligations on a revenue collection counterparty and on electricity suppliers, in a way which could be regarded as adversely affecting their private interests, raising a possibility that revenue regulations may be a hybrid instrument. However, this subsection clarifies that it is not considered necessary for the regulations to be treated as hybrid because the duty to consult before making regulations in section 25 will provide adequate protection that private interests will be fully considered.