Part 1: Licensing of Carbon Dioxide Transport and Storage Chapter 1: Licensing of Activities Section 16: Interim power of Secretary of State to grant licences
The Secretary of State will grant initial licences and determine the initial terms and conditions of the first licences. These licences will be regulated by the economic regulator. For the enduring regulatory regime, the power to grant licences will be transferred to the economic regulator. Together with Schedule 1, section 16 provides for the Secretary of State to set in regulations the date on which responsibility for the granting of licences transfers from the Secretary of State to the economic regulator.