Annual Charges for Clearing Corporations revised vide PNGRB (Levy of Fee and Other Charges) Amendment Regulations, 2022

Editor_4

2 years ago

On 02-08-2022 the Petroleum and Natural Gas Regulatory Board has notified PNGRB (Levy of Fee and Other Charges) Amendment Regulations, 2022 in order to amend Petroleum and Natural Gas Regulatory Board (Levy of Fee and Other Charges) Regulations, 2007

Key Modifications:

1. Insertion:

Regulation 3 (1): Levy of fee: (1) Every application under various provisions of the Act or the regulations framed thereunder shall accompany fee as specified below, namely:-

S.No	Reg.	2007	2022
1.	S.No. 12		Application for renunciation of authorization in favour of another entity, or Application for transfer of authorization involving transfer of majority equity shareholding/ stake (at least 51%), or Application for transfer of authorization by the entity to its wholly owned subsidiary company, or Transfer of authorization by the wholly owned subsidiary company – 20,00,000 per Geographical Area (‘G.A.')/ pipeline
2.	S. No. 13		Application for transfer of less than 51% equity shareholding/ stake- 10,00,000 per G.A./ pipeline
	Applications of the 2 insertions to be submitted as per PNGRB (Authorizing Entities to Lay, Build, Operate or Expand City or Local Natural Gas Distribution Networks) Regulations 2008; PNGRB (Authorizing Entities to Lay, Build, Operate or Expand Natural Gas Pipelines) Regulations, 2008; PNGRB (Authorizing Entities to Lay, Build, Operate or Expand Petroleum and Petroleum Products Pipelines) Regulations, 2010. In case where more than one G.A./ pipeline is proposed then Rs.20,00,00 will be charged for the 1st G.A./ pipeline and an additional amount of Rs. 5,00,000 per each subsequent G.A./ pipeline.

2. Substitution:

Regulation 4 (2A)—The following annual other charges specified in the Table, must be payable with effect from the date of authorization granted to it by the Board under Petroleum and Natural Gas Regulatory Board (Gas Exchange) Regulations, 2020, namely:

S. No.	Particulars	Amount
1.	Annual and other charges under Reg 13 of the PNGRB Regulations, 2020
	For a Gas Exchange with Clearing Corporation For A Gas Exchange without Clearing Corporation	2007 Rs.20,00,000 or 0.02% of the trade value in the exchange (excluding taxes) during the relevant financial year, whichever is higher	2022 Rs.25,00,000 or 1% of total revenue (excluding taxes) during the relevant financial year as per the audited financial statements, whichever is higher
	For a Clearing Corporation	Rs.20,00,000 or 0.02% of the clearing value in the clearing corporation (excluding taxes) during the relevant financial year, whichever is higher	Rs.25,00,000 or 1% of the total Revenue of the clearing corporation (excluding taxes) during the relevant financial year as per the audited financial statements, whichever is higher
	Other Charges can be initially paid considering the revenue accrued during the previous financial year. The difference between the amount that is paid and which is still payable can be adjusted at the time of making payment for the next financial year.