Part 2: Carbon dioxide capture, storage etc and hydrogen production, transport and storage Chapter 1: Revenue Support Contracts Section 67: Designation of carbon capture counterparty
Section 67 makes provision for Secretary of State to designate a person by notice, with the consent of that person, to be a counterparty to carbon capture revenue support contracts or a counterparty for any one or more descriptions of carbon capture revenue support contract. A carbon capture counterparty will enter into and manage contracts with eligible carbon capture entities.
	Subsection (5) provides that more than one carbon capture counterparty may be designated at one time.
	Subsection (6) deals with the continuity of carbon capture counterparties. If the designation of a carbon capture counterparty were to lapse, the Secretary of State must, as soon as reasonably practicable, make a transfer scheme under section 86, transferring contracts to a new carbon capture counterparty. This is designed to ensure that where a carbon capture counterparty ceases to be designated the contracts are transferred to a new carbon capture counterparty.
	Subsection (7) defines "carbon capture entity" and "storage".
	Subsection (8) makes clear that for the purposes of the definition of "carbon capture entity", carrying on carbon capture activities in the United Kingdom includes such activities in, above or below the territorial sea adjacent to the United Kingdom and waters in a Gas Importation and Storage Zone.