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Oil And Gas Authority
The North Sea Transition Authority (NSTA), known as the Oil and Gas Authority (OGA) until March 2022, is a private company limited by shares wholly owned by the Secretary of State for Business, Energy and Industrial Strategy. It is responsible for maximising the economic recovery of oil from the North Sea. It is empowered to license and regulate activity in relation to oil and gas in the United Kingdom, including oil and gas exploration, carbon capture and storage, and offshore gas storage. The NSTA’s role is to take the steps necessary to: Established in April 2015 as an executive agency of the Department for Business, Energy and Industrial Strategy, on 1 October 2016 the Oil and Gas Authority was incorporated as a Government Company, with the Secretary of State for Business, Energy and Industrial Strategy the sole shareholder and headquartered in Aberdeen with another office in London, which is also its registered company address. As of the 6 March 2019, Tim Eggar is t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Act 2006
The Companies Act 2006 (c 46) is an Act of the Parliament of the United Kingdom which forms the primary source of UK company law. The Act was brought into force in stages, with the final provision being commenced on 1 October 2009. It largely superseded the Companies Act 1985. The Act provides a comprehensive code of company law for the United Kingdom, and made changes to almost every facet of the law in relation to companies. The key provisions are: * the Act codifies certain existing common law principles, such as those relating to directors' duties. * it transposes into UK law the Takeover Directive and the Transparency Directive of the European Union * it introduces various new provisions for private and public companies. * it applies a single company law regime across the United Kingdom, replacing the two separate (if identical) systems for Great Britain and Northern Ireland. * it otherwise amends or restates almost all of the Companies Act 1985 to varying degrees. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Government
ga, Rialtas a Shoilse gd, Riaghaltas a Mhòrachd , image = HM Government logo.svg , image_size = 220px , image2 = Royal Coat of Arms of the United Kingdom (HM Government).svg , image_size2 = 180px , caption = Royal Arms , date_established = , state = United Kingdom , address = 10 Downing Street, London , leader_title = Prime Minister (Rishi Sunak) , appointed = Monarch of the United Kingdom (Charles III) , budget = 882 billion , main_organ = Cabinet of the United Kingdom , ministries = 23 ministerial departments, 20 non-ministerial departments , responsible = Parliament of the United Kingdom , url = The Government of the United Kingdom (commonly referred to as British Government or UK Government), officially His Majesty's Government (abbreviated to HM Government), is the central executive authority of the United Kingdom of Great Britain and Northern Ireland. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coming Into Force
In law, coming into force or entry into force (also called commencement) is the process by which legislation, regulations, treaties and other legal instruments come to have legal force and effect. The term is closely related to the date of this transition. The point at which such instrument comes into effect may be set out in the instrument itself, or after the lapse of a certain period, or upon the happening of a certain event, such as a proclamation or an objective event, such as the birth, marriage, reaching a particular age or death of a certain person. On rare occasions, the effective date of a law may be backdated to a date before the enactment. To come into force, a treaty or Act first needs to receive the required number of votes or ratifications. Although it is common practice to stipulate this number as a requirement in the body of the treaty itself, it can also be set out in a superior law or legal framework, such as a constitution or the standing orders of the legis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Act 2016
The Energy Act 2016 (c. 20) is a UK Act of Parliament relating to UK enterprise law and energy in the UK. It created a new Oil and Gas Authority, meaning that a quango rather than a government minister deals with the oil and gas industry. Contents Sections 1-85 and Schs 1-2 concern the new Oil and Gas Authority (OGA). *Section 2 transfers functions to the OGA, explained under Sch 1. SS can make regulations. *Section 8, matters to which the OGA must have regard are: minimising future public expense, security of energy supply, storage of carbon dioxide, collaboration with the UK government and people doing ‘relevant activities’, innovation in technology and work practice, and ‘a stable and predictable system of regulation which encourages investment in relevant activities.’ *Section 9(1) permits the Secretary of State to give directions to OGA that ‘(a) are necessary in the interests of national security, or (b) are otherwise in the public interest’, (2) but under (b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Year
A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally not the reporting period to align with the calendar year (1 January to 31 December). Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxes, such as income tax. Many annual government fees—such as council tax and license fees, are also levied on a fiscal year basis, but others are charged on an anniversary basis. Some companies, such as Cisco Systems, end their fiscal year on the same day of the week each year: the day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dormant Company
A dormant company is a company that carries out no business activities in the given period of time. Dormant companies do not engage in buying/selling for profit, not carrying on business or profession, providing services, earning interest, managing investments or receiving income. United Kingdom In the United Kingdom, a dormant company is a company whose transactions have been limited to payment for shares taken by subscribers to the memorandum of association, fees paid to the Registrar of Companies for a change of company name, the re-registration of a company and filing annual returns and payment made in respect of civil penalties imposed by the Registrar of Companies for delivering accounts to the Registrar after the statutory time allowed for filing. Under the new Companies Act there are exceptions for certain companies. For example, some financial and insurance companies are under obligation to file their full accounts, regardless of their status. Singapore In Singapo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
England And Wales
England and Wales () is one of the three legal jurisdictions of the United Kingdom. It covers the constituent countries England and Wales and was formed by the Laws in Wales Acts 1535 and 1542. The substantive law of the jurisdiction is English law. The devolved Senedd (Welsh Parliament; cy, Senedd Cymru) – previously named the National Assembly of Wales – was created in 1999 by the Parliament of the United Kingdom under the Government of Wales Act 1998 and provides a degree of self-government in Wales. The powers of the Parliament were expanded by the Government of Wales Act 2006, which allows it to pass its own laws, and the Act also formally separated the Welsh Government from the Senedd. There is no equivalent body for England, which is directly governed by the parliament and government of the United Kingdom. History of jurisdiction During the Roman occupation of Britain, the area of present-day England and Wales was administered as a single unit, except f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company Formation
Company formation is the term for the process of incorporation of a business in the UK. It is also sometimes referred to as company registration. These terms are both also used when incorporating a business in the Republic of Ireland. Under UK company law and most international law, a company or corporation is considered an entity that is separate from the people who own or operate the company. Today the majority of UK companies are formed the same day electronically. Companies can be created by individuals, specialised agents, solicitors or accountants. Many solicitors and accountants subcontract incorporation out to specialised company formation agents. Most agents offer company formation packages for less than £100. The cost of carrying out paper filing directly with Companies House is £20. This fee does not include the cost of witnessing documents or preparation of memorandum & articles of association for the company, which would usually be carried out by a solicitor, acc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fracking
Fracking (also known as hydraulic fracturing, hydrofracturing, or hydrofracking) is a well stimulation technique involving the fracturing of bedrock formations by a pressurized liquid. The process involves the high-pressure injection of "fracking fluid" (primarily water, containing sand or other proppants suspended with the aid of thickening agents) into a wellbore to create cracks in the deep-rock formations through which natural gas, petroleum, and brine will flow more freely. When the hydraulic pressure is removed from the well, small grains of hydraulic fracturing proppants (either sand or aluminium oxide) hold the fractures open. Hydraulic fracturing began as an experiment in 1947, and the first commercially successful application followed in 1950. As of 2012, 2.5 million "frac jobs" had been performed worldwide on oil and gas wells, over one million of those within the U.S. Such treatment is generally necessary to achieve adequate flow rates in shale gas, tight gas, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department Of Energy And Climate Change
The Department of Energy and Climate Change (DECC) was a department of the Government of the United Kingdom created on 3 October 2008, by Prime Minister Gordon Brown to take over some of the functions related to energy of the Department for Business, Enterprise and Regulatory Reform, and those relating to climate change of the Department for Environment, Food and Rural Affairs. It was led at time of closure by the Secretary of State for Energy and Climate Change, Amber Rudd MP. Following Theresa May's appointment as Prime Minister in July 2016, the department was disbanded and merged with the Department for Business, Innovation and Skills, to form the Department for Business, Energy and Industrial Strategy under Greg Clark MP. The department released a major White Paper in July 2009, setting out its purpose and plans. The majority of DECC's budget was spent on managing the historic nuclear sites in the United Kingdom, in 2012/13 this being 69% of its budget spent through the Nuc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Regulator
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulating capacity. These are customarily set up to strengthen safety and standards, and/or to protect consumers in markets where there is a lack of effective competition. Examples of regulatory agencies that enforce standards include the Food and Drug Administration in the United States and the Medicines and Healthcare products Regulatory Agency in the United Kingdom; and, in the case of economic regulation, the Office of Gas and Electricity Markets and the Telecom Regulatory Authority in India. Legislative basis Regulatory agencies are generally a part of the executive branch of the government and have statutory authority to perform their functions with oversight from the legislative branch. Their actions are often open to legal review. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wood Review
Wood is a porous and fibrous structural tissue found in the stems and roots of trees and other woody plants. It is an organic materiala natural composite of cellulose fibers that are strong in tension and embedded in a matrix of lignin that resists compression. Wood is sometimes defined as only the secondary xylem in the stems of trees, or it is defined more broadly to include the same type of tissue elsewhere such as in the roots of trees or shrubs. In a living tree it performs a support function, enabling woody plants to grow large or to stand up by themselves. It also conveys water and nutrients between the leaves, other growing tissues, and the roots. Wood may also refer to other plant materials with comparable properties, and to material engineered from wood, or woodchips or fiber. Wood has been used for thousands of years for fuel, as a construction material, for making tools and weapons, furniture and paper. More recently it emerged as a feedstock for the produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
