32.—(1) Every person to whom a Class 1 bus service licence or a licence under Part 3 of the Rapid Transit Systems Act 1995 has been granted must —
(a)
establish and maintain a Fuel Equalisation Fund (called in this Part the Fund) for the purpose of mitigating the effects of any increase in fuel price and electricity tariff; and
(b)
pay into the Fund an annual contribution of such amount as the Council may, from time to time, determine.
[30/2015]
(2) A person mentioned in subsection (1) must not withdraw any sum of money from the Fund except with the approval of the Council.
(3) An application to withdraw any sum of money from the Fund must be made to the Council in such form or manner as the Council may require.
(4) Upon receiving an application under subsection (3), the Council may —
(a)
grant the application to withdraw the sum of money from the Fund in full or in part, subject to such conditions as the Council thinks fit; or
(b)
reject the application.
[22A
Contravention of section 32
33.—(1) If the Council is satisfied that any person mentioned in section 32(1) has contravened section 32(1) or (2) or any condition imposed under section 32(4), the Council may, by written notice, require that person to pay to the Council a financial penalty in respect of the contravention of an amount not exceeding $100,000.
(2) Unless otherwise directed by the Minister, the financial penalty payable by the person under subsection (1) does not absolve the person —
(a)
from the person’s compliance with section 32(1); and
(b)
if the Council requires the person to do so, from paying into the Fund such sum of money withdrawn by the person from the Fund without the approval of the Council.
(3) The Council must, in any notice requiring the payment of a financial penalty, specify the date before which the financial penalty is to be paid, being a date not earlier than the end of the period within which an appeal against the decision may be brought under section 40.
(4) Any financial penalty payable by any person under subsection (1) is recoverable as a debt due to the Council from that person, and the person’s liability to pay such penalty is not affected by the person’s licence ceasing (for any reason) to be in force.