CLEAN ENERGY LEGISLATION (CARBON TAX REPEAL) ACT 2014 - SCHEDULE 2 Carbon tax price reduction obligation

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CLEAN ENERGY LEGISLATION (CARBON TAX REPEAL) ACT 2014 - SCHEDULE 2

Carbon tax price reduction obligation

Competition and Consumer Act 2010

1 After paragraph 2B(1)(a)

Insert:

(aa) Part V;

2 After subparagraph 6(2)(b)(i)

Insert:

(ia) Part V (other than Division 5);

3 After Part IVB

Insert:

Part V -- Carbon tax price reduction obligation

Division 1 -- Preliminary

60 Simplified outline of this Part

• An entity must not engage in price exploitation in relation to the carbon tax repeal.

• The Commission may monitor prices in relation to the carbon tax repeal and the carbon tax scheme.

• An entity must not make false or misleading representations about the effect of the carbon tax repeal, or the carbon tax scheme, on the price for the supply of goods or services.

• An entity that sells electricity or natural gas, or an entity that is a bulk SGG importer and sells synthetic greenhouse gas, will be required to explain and substantiate:

(a) how the carbon tax repeal has affected, or is affecting, the entity's regulated supply input costs; and

(b) how reductions in the entity's regulated supply input costs that are directly or indirectly attributable to the carbon tax repeal are reflected in the prices charged by the entity for regulated supplies of electricity, natural gas or synthetic greenhouse gas.

• An entity that sells electricity or natural gas to customers, or an entity that is a bulk SGG importer and sells synthetic greenhouse gas to customers, must:

(a) give a carbon tax removal substantiation statement to the Commission; and

(b) include in the statement the entity's estimate, on an average annual percentage price basis, or an average annual dollar price basis, of the entity's cost savings that have been, are, or will be, attributable to the carbon tax repeal and that have been, are being, or will be, passed on to customers during the financial year that began on 1 July 2014; and

(d) in a case where the entity sells electricity or natural gas to customers--communicate to customers a statement that identifies, on an average annual percentage price basis, or an average annual dollar price basis, the estimated cost savings to customers that are for the financial year that began on 1 July 2014.

• Infringement notices may be issued for certain contraventions of this Part.

60AA Objects etc.

(1) The main objects of this Part are:

(a) to deter price exploitation in relation to the carbon tax repeal at each point in the supply chain for regulated goods; and

(b) to ensure that all cost savings attributable to the carbon tax repeal are passed through the supply chain for regulated goods.

(2) The intention of the Parliament in enacting this Part is to ensure that all cost savings attributable to the carbon tax repeal are passed on to consumers of regulated goods through lower prices.

60A Definitions

In this Part:

"applicable compliance period" , for a carbon tax removal substantiation notice, has the meaning given by subsection 60FC(2).

"bulk SGG importer" means an entity that:

(a) holds a controlled substances licence under the Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 that allows the entity to import synthetic greenhouse gases; and

(b) supplies synthetic greenhouse gas to SGG customers.

"carbon charge component" of levy means so much of the amount of the levy as is calculated by multiplying the number of tonnes of carbon dioxide equivalence by a per unit charge applicable under subsection 100(1) of the Clean Energy Act 2011 for the issue of a carbon unit.

"carbon tax removal substantiation notice" has the meaning given by subsection 60FA(3).

"carbon tax removal substantiation statement" has the meaning given by subsection 60FD(3).

"carbon tax repeal" means:

(a) the repeal of the following Acts by the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 :

(i) the Clean Energy Act 2011 ;

(ii) the Clean Energy (Charges--Customs) Act 2011 ;

(iii) the Clean Energy (Charges--Excise) Act 2011 ;

(iv) the Clean Energy (Unit Issue Charge--Auctions) Act 2011 ;

(v) the Clean Energy (Unit Issue Charge--Fixed Charge) Act 2011 ;

(vi) the Clean Energy (Unit Shortfall Charge--General) Act 2011 ; and

(b) the amendments of the following Acts made by the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 :

(i) the Fuel Tax Act 2006 ;

(ii) the Fuel Tax (Consequential and Transitional Provisions) Act 2006 ; and

(i) the Customs Tariff Amendment (Carbon Tax Repeal) Act 2014 ;

(ii) the Excise Tariff Amendment (Carbon Tax Repeal) Act 2014 ;

(iii) the Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Act 2014 ;

(iv) the Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment (Carbon Tax Repeal) Act 2014 .

"carbon tax repeal transition period" means the period:

(a) beginning at the start of 1 July 2014; and

(b) ending at the end of 30 June 2015.

"carbon tax scheme" means the scheme embodied in the following:

(a) the Clean Energy Act 2011 , as in force at the start of 1 January 2014;

(b) the associated provisions (within the meaning of that Act as in force at that time);

(i) Division 42A;

(ii) section 43 - 5, so far as that section relates to a carbon reduction;

(iii) section 43 - 8;

(iv) section 43 - 11;

(d) section 3A of the Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Act 1995 , as in force at the start of 1 January 2014, so far as that section relates to carbon charge component ;

(e) section 4A of the Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Act 1995 , as in force at the start of 1 January 2014, so far as that section relates to carbon charge component ;

(f) section 3A of the Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Act 1995 , as in force at the start of 1 January 2014, so far as that section relates to carbon charge component ;

(g) sections 6FA, 6FB and 6FC of the Excise Tariff Act 1921 , as in force at the start of 1 January 2014 ;

(h) section 19A of the Customs Tariff Act 1995 , as in force at the start of 1 January 2014 .

"electricity customer" means an entity that purchases electricity.

"electricity retailer" means:

(a) an entity who:

(i) is a retailer within the meaning of the National Energy Retail Law as it applies in a State or a Territory; and

(ii) sells electricity to electricity customers; or

(b) an entity who is a retailer within the meaning of the Electricity Industry Act 2000 (Vic.); or

(d) an entity who:

(i) holds a retail licence within the meaning of the Electricity Industry Act 2004 (WA); or

(ii) holds an integrated regional licence within the meaning of the Electricity Industry Act 2004 (WA) that authorises the entity to sell electricity; or

(e) an entity who is an electricity entity within the meaning of the Electricity Reform Act (NT) and whose licence under that Act authorises the entity to sell electricity; or

(f) any other entity who produces electricity in Australia.

"engages in price exploitation in relation to the carbon tax repeal" : see section 60C.

"entity" means any of the following:

(a) a corporation (as defined by section 4);

(b) an individual;

(d) a corporation sole;

(e) a body politic;

(f) a partnership;

(g) any other unincorporated association or body of entities;

(h) a trust;

(i) any party or entity which can or does buy or sell electricity, natural gas or synthetic greenhouse gas.

"infringement notice" means an infringement notice issued under subsection 60L(1).

"infringement notice compliance period" : see section 60P.

"infringement notice provision" means section 60C or 60K.

"listed corporation" has the meaning given by section 9 of the Corporations Act 2001 .

"National Energy Retail Law" means the National Energy Retail Law set out in the Schedule to the National Energy Retail Law (South Australia) Act 2011 (SA).

"natural gas" has the same meaning as in the National Gas (Commonwealth) Law (as defined by the Australian Energy Market Act 2004 ).

"natural gas customer" means an entity that purchases natural gas.

"natural gas retailer" means:

(a) an entity who:

(i) is a retailer within the meaning of the National Energy Retail Law as it applies in a State or a Territory; and

(ii) sells natural gas to natural gas customers; or

(b) an entity who is a gas retailer within the meaning of the Gas Industry Act 2001 (Vic.); or

(d) an entity who holds a trading licence under the Energy Coordination Act 1994 (WA); or

(e) an entity who holds a licence under the Gas Act 2000 (Tas.) to sell gas by retail.

"price" , in relation to a supply, includes:

(a) a charge of any description for the supply; and

(b) any pecuniary or other benefit, whether direct or indirect, received or to be received by a person for or in connection with the supply.

"regulated goods" : see section 60B.

"regulated supply" means a supply that:

(a) occurs during the carbon tax repeal transition period; and

(b) is of regulated goods.

"regulated supply input costs" of an entity means the entity's input costs in relation to the making by the entity of regulated supplies of electricity, natural gas or synthetic greenhouse gas.

"Royal Assent day" means the day on which the Act that inserted this Part receives the Royal Assent.

"SGG customer" means an entity that purchases synthetic greenhouse gas.

"SGG equipment" has the same meaning as in the Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 .

"synthetic greenhouse gas" has the same meaning as in the Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 .

60B Regulated goods

(1) For the purposes of this Part, regulated goods means:

(a) natural gas; or

(b) electricity; or

(d) SGG equipment; or

(e) other goods of a kind specified in a legislative instrument under subsection ( 2).

(2) The Minister may, by legislative instrument, specify one or more kinds of goods for the purposes of paragraph ( 1)(e).

Division 2 -- Carbon tax price reduction obligation

60C Price exploitation in relation to the carbon tax repeal

(1) An entity must not engage in price exploitation in relation to the carbon tax repeal.

(2) For the purposes of this Part, a n entity engages in price exploitation in relation to the carbon tax repeal if, and only if:

(a) it makes a regulated supply; and

(b) the price for the supply does not pass through all of the entity's cost savings relating to the supply that are directly or indirectly attributable to the carbon tax repeal.

(3) For the purposes of this Part, in determining whether the price for a supply made by an entity does not pass through all of the entity's cost savings relating to the supply that are directly or indirectly attributable to the carbon tax repeal, have regard to the following matters:

(a) the entity's cost savings that are directly or indirectly attributable to the carbon tax repeal;

(b) how the cost savings mentioned in paragraph ( a) can reasonably be attributed to the different supplies that the entity makes;

(d) any other relevant matter that may reasonably influence the price.

60CA Failure to pass on cost savings--250% penalty

(1) If:

(a) either:

(i) an entity contravenes subsection 60C(1) in relation to a particular supply of electricity or natural gas; or

(ii) an entity that is a bulk SGG importer contravenes subsection 60C(1) in relation to a particular supply of synthetic greenhouse gas; and

(b) the contravention involved a failure to pass through all of the entity's cost savings relating to the supply that are directly or indirectly attributable to the carbon tax repeal;

there is payable by the entity to the Commonwealth, and the entity shall pay to the Commonwealth, by way of penalty, an amount equal to 250% of those cost savings that were not passed through.

When penalty becomes due and payable

(2) An amount payable by an entity under subsection ( 1) is due and payable on 1 July 2015.

Late payment penalty

(3) If an amount payable by an entity under subsection ( 1) remains unpaid after the time when it became due for payment, there is payable by the entity to the Commonwealth, and the entity shall pay to the Commonwealth, by way of penalty, an amount calculated at the rate of 6% per annum on the amount unpaid, computed from that time.

Recovery of penalties

(4) An amount payable by an entity under subsection ( 1) or (3):

(a) is a debt due to the Commonwealth; and

(b) shall be recovered by the Commission, on behalf of the Commonwealth, by action in a court of competent jurisdiction, unless the cost of doing so exceeds the amount.

Report to Parliament

(5) Within 13 months after the Royal Assent day, the Commission must report to Parliament in respect of penalties payable by entities.

60D Notice to entity that is considered to have engaged in price exploitation in relation to the carbon tax repeal

(1) The Commission may give a n entity a written notice under this section if the Commission considers that the entity has engaged in price exploitation in relation to the carbon tax repeal.

(2) The notice must:

(a) be expressed to be given under this section; and

(b) identify:

(i) the entity that made the supply; and

(ii) the kind of supply made; and

(iii) the circumstances in which the supply was made; and

(c) state that, in the Commission's opinion, the price for the supply did not pass through all of the entity's cost savings relating to the supply that were directly or indirectly attributable to the carbon tax repeal.

(3) In any proceedings:

(aa) under section 60CA; or

(a) under section 76 for a pecuniary penalty order relating to section 60C; or

(b) under section 80 for an injunction relating to section 60C; or

the notice is prima facie evidence that the price for the supply did not pass through all of the entity's cost savings relating to the supply that were directly or indirectly attributable to the carbon tax repeal.

(4) The Commission may vary or revoke the notice on its own initiative or on application made by the entity . The Commission must give the entity written notice of the variation or revocation.

(5) A notice under this section is not a legislative instrument.

60E Commission may issue notice to aid prevention of price exploitation in relation to the carbon tax repeal

(1) The Commission may give an entity a written notice under this section if the Commission considers that doing so will aid the prevention of the entity engaging in price exploitation in relation to the carbon tax repeal.

(2) The notice must:

(a) be expressed to be given under this section; and

(b) be expressed to relate to any supply that the entity makes that is:

(i) of a kind specified in the notice; and

(ii) made in circumstances specified in the notice; and

(iii) made during the period specified in the notice (which must not be a period ending after the end of the carbon tax repeal transition period); and

(c) specify the maximum price that, in the Commission's opinion, may be charged for a supply to which the notice is expressed to relate.

(3) The Commission may, on its own initiative or on application made by the entity :

(a) vary the notice to:

(i) change the period specified as required by subparagraph ( 2)(b)(iii); or

(ii) change the price specified in the notice as required by paragraph ( 2)(c); or

(b) revoke the notice.

The Commission must give the entity written notice of the variation or revocation.

(4) The Commission may publish the notice, or particulars of any variation or revocation of the notice, in such manner as the Commission considers appropriate.

(5) A notice under this section is not a legislative instrument.

60F Acquisition of property

Scope

(1) This section applies to the following provisions of this Act:

(a) section 60C;

(b) any other provision to the extent to which it relates to section 60C.

Effect of provision

(2) The provision has no effect to the extent (if any) to which its operation would result in the acquisition of property (within the meaning of paragraph 51(xxxi) of the Constitution) otherwise than on just terms (within the meaning of that paragraph).

Division 2A -- Carbon tax removal substantiation notices

60FA Carbon tax removal substantiation notices

Scope

(1) This section applies to an entity if the entity:

(a) is an electricity retailer that sells electricity to electricity customers; or

(b) is a natural gas retailer that sells natural gas to natural gas customers; or

Carbon tax removal substantiation notice

(2) The Commission must , within 30 days after the Royal Assent day, by written notice given to the entity, require the entity:

(a) to give to the Commission, within the period specified in the notice, a written statement that explains:

(i) how the carbon tax repeal has affected, or is affecting, the entity's regulated supply input costs; and

(ii) how reductions in the entity's regulated supply input costs that are directly or indirectly attributable to the carbon tax repeal are reflected in the prices charged by the entity for regulated supplies of electricity, natural gas or synthetic greenhouse gas; and

(b) to do either or both of the following:

(i) give to the Commission, within the period and in the manner and form specified in the notice, information that substantiates the explanation set out in the statement;

(ii) produce to the Commission, within the period and in the manner specified in the notice, documents that substantiate the explanation set out in the statement.

(3) A notice under subsection ( 2) is to be known as a carbon tax removal substantiation notice .

(4) A period specified in a carbon tax removal substantiation notice must be 21 days after the notice is given.

(5) A carbon tax removal substantiation notice must explain the effect of:

(a) section 60FB; and

(b) section 60FC; and

Section does not limit section 60H

(6) This section does not limit section 60H (which is about the price - related information - gathering powers of the Commission).

Section does not limit section 155

(7) This section does not limit section 155 (which is about the general information - gathering powers of the Commission).

60FB Extending periods for complying with carbon tax removal substantiation notices

(1) An entity that has been given a carbon tax removal substantiation notice may, at any time within 14 days after the notice was given to the entity by the Commission, apply in writing to the Commission for an extension of the period for complying with the notice.

(2) The Commission may, by written notice given to the entity, extend the period within which the entity must comply with the notice, so long as the extension is for a period of not more than 28 days.

60FC Compliance with carbon tax removal substantiation notices

(1) An entity that is given a carbon tax removal substantiation notice must comply with it within the applicable compliance period for the notice.

(2) The applicable compliance period for a carbon tax removal substantiation notice is:

(a) the period of 21 days specified in the notice; or

(b) if the period for complying with the notice has been extended under section 60FB--the period as so extended;

and includes (if an application has been made under section 60FB for an extension of the period for complying with the notice) the period up until the time when the applicant is given notice of the Commission's decision on the application.

(3) An entity commits an offence if:

(a) the entity is subject to a requirement under subsection ( 1); and

(b) the entity is capable of complying with the requirement; and

(d) the omission breaches the requirement.

Penalty: 200 penalty units.

(4) Subsection ( 3) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code .

(5) If subsection ( 3) of this section applies to an individual (whether or not because of subsection 6(2)), subsection ( 3) of this section has effect, in relation to the individual, as if the reference to 200 penalty units were a reference to 40 penalty units.

(6) If subsection ( 1) of this section applies to an individual (whether or not because of subsection 6(2)), the individual is excused from giving information or producing a document in accordance with a carbon tax removal substantiation notice on the ground that the information or the production of the document might tend to incriminate the individual or expose the individual to a penalty.

Division 2B -- Carbon tax removal substantiation statements

60FD Carbon tax removal substantiation statements

Scope

(1) This section applies to an entity if the entity:

(a) is an electricity retailer that sells electricity to electricity customers; or

(b) is a natural gas retailer that sells natural gas to natural gas customers; or

Carbon tax removal substantiation statement

(2) Within 30 days after the Royal Assent day, the entity must give to the Commission:

(a) a written statement that sets out:

(i) if the entity has electricity customers--the entity's estimate, on an average annual percentage price basis, or an average annual dollar price basis, of the entity's cost savings that have been, are, or will be, directly or indirectly attributable to the carbon tax repeal and that have been, are being, or will be, passed on to each class of electricity customers during the financial year that began on 1 July 2014; and

(ii) if the entity has natural gas customers--the entity's estimate, on an average annual percentage price basis, or an average annual dollar price basis, of the entity's cost savings that have been, are, or will be, directly or indirectly attributable to the carbon tax repeal and that have been, are being, or will be, passed on to each class of natural gas customers during the financial year that began on 1 July 2014; and

(iii) if the entity has SGG customers--the entity's estimate, on an average annual percentage price basis, or an average annual dollar price basis, of the entity's cost savings that have been, are, or will be, directly or indirectly attributable to the carbon tax repeal and that have been, are being, or will be, passed on to each class of SGG customers during the financial year that began on 1 July 2014; and

(b) information that substantiates the estimate or estimates set out in the statement.

Note: Section 137.1 of the Criminal Code creates an offence of providing false or misleading information.

(3) A statement under paragraph ( 2)(a) is to be known as a carbon tax removal substantiation statement .

(4) If the entity has given a carbon tax removal substantiation statement to the Commission, the entity must ensure that a copy of the statement is available on the entity's website, in a way that is readily accessible by the public, until the end of 30 June 2015.

Compliance

(5) An entity commits an offence if:

(a) the entity is subject to a requirement under subsection ( 2) or (4); and

(b) the entity is capable of complying with the requirement; and

(d) the omission breaches the requirement.

Penalty: 500 penalty units.

(6) Subsection ( 5) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code .

(7) If subsection ( 5) of this section applies to an individual (whether or not because of subsection 6(2)), subsection ( 5) of this section has effect, in relation to the individual, as if the reference to 500 penalty units were a reference to 40 penalty units.

(8) If subsection ( 2) of this section applies to an individual (whether or not because of subsection 6(2)), the individual is excused from giving an estimate or information under subsection ( 2) of this section on the ground that the estimate or information might tend to incriminate the individual or expose the individual to a penalty.

Section does not limit section 60H

(9) This section does not limit section 60H (which is about the price - related information - gathering powers of the Commission).

Section does not limit section 155

(10) This section does not limit section 155 (which is about the general information - gathering powers of the Commission).

Report to Parliament

(11) Within 13 months after the Royal Assent day, the Commission must report to Parliament in respect of compliance by all entities.

Division 2C -- Statements for customers

60FE Statements for customers

Scope

(1) This section applies to an entity if the entity:

(a) is an electricity retailer that sells electricity to electricity customers; or

(b) is a natural gas retailer that sells natural gas to natural gas customers.

Preparation of statement

(2) Within 30 days after the Royal Assent day, the entity must prepare a statement that:

(a) if the entity has electricity customers--identifies, on an average annual percentage price basis, or an average annual dollar price basis, the estimated cost savings, to each class of electricity customers, that:

(i) have been, are, or will be, directly or indirectly attributable to the carbon tax repeal; and

(ii) are for the financial year that began on 1 July 2014; and

(b) if the entity has natural gas customers--identifies, on an average annual percentage price basis, or an average annual dollar price basis, the estimated cost savings, to each class of natural gas customers, that:

(i) have been, are, or will be, directly or indirectly attributable to the carbon tax repeal; and

(ii) are for the financial year that began on 1 July 2014.

Communication of contents of statement to customers

(3) During the period:

(a) beginning 30 days after the Royal Assent day; and

(b) ending 60 days after the Royal Assent day;

the entity must ensure that the contents of the statement prepared by it under subsection ( 2) that relates to a class of electricity customers or natural gas customers is communicated to each customer of that class.

Note: Section 137.1 of the Criminal Code creates an offence of providing false or misleading information.

Compliance

(4) An entity commits an offence if:

(a) the entity is subject to a requirement under subsection ( 2) or (3); and

(b) the entity is capable of complying with the requirement; and

(d) the omission breaches the requirement.

Penalty: 400 penalty units.

(5) Subsection ( 4) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code .

(6) If subsection ( 4) of this section applies to an individual (whether or not because of subsection 6(2)), subsection ( 4) of this section has effect, in relation to the individual, as if the reference to 400 penalty units were a reference to 40 penalty units.

(7) If subsection ( 2) or (3) of this section applies to an individual (whether or not because of subsection 6(2)), the individual is excused from:

(a) preparing a statement under subsection ( 2) of this section; or

(b) communicating the contents of a statement under subsection ( 3) of this section;

on the ground that the information in the statement might tend to incriminate the individual or expose the individual to a penalty.

Division 3 -- Price monitoring in relation to the carbon tax repeal etc.

60G Commission may monitor prices in relation to the carbon tax repeal etc.

Price monitoring--carbon tax repeal transition period

(1) The Commission may monitor prices to assess the general effect of the carbon tax repeal on prices charged by entities for supplies, in the carbon tax repeal transition period, of relevant goods.

Note: For relevant goods , see subsection ( 11).

(2) The Commission may monitor prices to assess the general effect of the carbon tax repeal on prices:

(a) advertised; or

(b) displayed; or

for supplies, in the carbon tax repeal transition period, of relevant goods by entities .

Note: For relevant goods , see subsection ( 11).

(3) The Commission may monitor prices to assess the general effect of the carbon tax repeal on prices charged for supplies, in the carbon tax repeal transition period, of goods by an entity for which there is an entry in the Information Database (within the meaning of the Clean Energy Act 2011 ).

(4) The Commission may monitor prices to assess the general effect of the carbon tax repeal on prices:

(a) advertised; or

(b) displayed; or

for supplies, in the carbon tax repeal transition period, of goods by an entity for which there is an entry in the Information Database (within the meaning of the Clean Energy Act 2011 ).

Price monitoring--price exploitation

(5) The Commission may monitor prices to assist the Commission's consideration of whether an entity has engaged, is engaging, or may in the future engage, in price exploitation in relation to the carbon tax repeal.

Price monitoring--pre - repeal transition period

(6) The Commission may monitor prices to assess the general effect of the carbon tax scheme on prices charged by entities for supplies, in the pre - repeal transition period, of relevant goods.

Note 1: For pre - repeal transition period , see subsection ( 13).

Note 2: For relevant goods , see subsection ( 11).

(7) The Commission may monitor prices to assess the general effect of the carbon tax scheme on prices:

(a) advertised; or

(b) displayed; or

for supplies, in the pre - repeal transition period, of relevant goods by entities .

Note 1: For pre - repeal transition period , see subsection ( 13).

Note 2: For relevant goods , see subsection ( 11).

(8) The Commission may monitor prices to assess the general effect of the carbon tax scheme on prices charged for supplies, in the pre - repeal transition period, of goods by an entity for which there is an entry in the Information Database (within the meaning of the Clean Energy Act 2011 ).

Note: For pre - repeal transition period , see subsection ( 13).

(9) The Commission may monitor prices to assess the general effect of the carbon tax scheme on prices:

(a) advertised; or

(b) displayed; or

for supplies, in the pre - repeal transition period, of goods by an entity for which there is an entry in the Information Database (within the meaning of the Clean Energy Act 2011 ).

Note: For pre - repeal transition period , see subsection ( 13).

Section does not limit Part VIIA

(10) This section does not limit Part VIIA (which is about prices surveillance).

Relevant goods

(11) For the purposes of this section, the following are relevant goods :

(a) regulated goods;

(b) other goods of a kind specified in a legislative instrument under subsection ( 12).

(12) The Minister may, by legislative instrument, specify one or more kinds of goods for the purposes of paragraph ( 11)(b).

Pre - repeal transition period

(13) For the purposes of this section, pre - repeal transition period means the period:

(a) beginning at the commencement of this section; and

(b) ending at the end of 30 June 2014.

60H Information - gathering powers

(1) A member of the Commission may, by written notice given to a person, require the person:

(a) to give the Commission specified information in writing signed by:

(i) the person; or

(ii) if the person is a body corporate--a competent officer of the body corporate; or

(b) to produce to the Commission specified documents;

if:

(d) the member reasonably believes that the information, or information contained in the documents, will or may be useful to the Commission in monitoring prices as mentioned in any of subsections 60G(1) to (9).

Note: Sections 137.1 and 137.2 of the Criminal Code create offences for providing false or misleading information or documents.

(2) Information or documents that may be required under subsection ( 1) may relate to prices, or the setting of prices:

(a) before or after the carbon tax repeal; and

(b) before or after the start of the carbon tax repeal transition period; and

(3) Subsection ( 2) does not limit subsection ( 1).

(4) A person commits an offence if:

(a) the person is subject to a requirement under subsection ( 1); and

(b) the person is capable of complying with the requirement; and

(d) the omission breaches the requirement.

Penalty: 20 penalty units.

(5) An individual is excused from giving information or producing a document in accordance with a requirement under subsection ( 1) on the ground that the information or the production of the document might tend to incriminate the individual or expose the individual to a penalty.

Section does not limit section 60FA

(5A) This section does not limit section 60FA (which is about carbon tax removal substantiation notices).

Section does not limit section 155

(6) This section does not limit section 155 (which is about the general information - gathering powers of the Commission).

60J Reporting

(1) The Commission must, within 28 days after the end of each quarter, give the Minister a written report about the operations of the Commission under this Part during the quarter.

(2) A report under subsection ( 1) must include particulars of:

(a) all notices given under section 60E during the quarter; and

(b) all variations or revocations during the quarter of notices given under section 60E.

(3) Subsection ( 2) does not limit subsection ( 1).

(4) For the purposes of this section, a quarter is a period of 3 months:

(a) that occurs wholly or partly during the carbon tax repeal transition period; and

(b) that starts on any of the following days in a year:

(i) 1 January;

(ii) 1 April;

(iii) 1 July;

(iv) 1 October.

(5) As soon as practicable after the Minister receives a report under subsection ( 1), the Minister must make the report public by such means as the Minister considers appropriate.

(6) If this section commences during a quarter (but not on the first day of a quarter):

(a) no report is to be made at the end of the quarter; but

(b) the report made at the end of the next quarter is also to include the information required by subsections ( 1) and (2) in relation to the previous quarter.

Division 4 -- False or misleading representations about the effect of the carbon tax repeal etc. on prices

60K False or misleading representations about the effect of the carbon tax repeal etc. on prices

An entity must not, in trade or commerce, in connection with:

(a) the supply or possible supply of goods or services; or

(b) the promotion by any means of the supply or use of goods or services;

make a false or misleading representation, during the carbon tax repeal transition period, concerning the effect of:

(d) the carbon tax scheme or a part of the carbon tax scheme;

on the price for the supply of the goods or services.

Division 5 -- Infringement notices

60L Issuing an infringement notice

Issuing an infringement notice

(1) If the Commission has reasonable grounds to believe that a person has contravened an infringement notice provision, the Commission may issue an infringement notice to the person.

(2) The Commission must not issue more than one infringement notice to the person for the same alleged contravention of the infringement notice provision.

(3) The infringement notice does not have any effect if the notice:

(a) is issued more than 12 months after the day on which the contravention of the infringement notice provision is alleged to have occurred; or

(b) relates to more than one alleged contravention of an infringement notice provision by the person.

Matters to be included in an infringement notice

(4) An infringement notice must:

(a) be identified by a unique number; and

(b) state the day on which it is issued; and

(d) identify the Commission; and

(e) state how the Commission may be contacted; and

(f) give details of the alleged contravention by the person, including:

(i) the date of the alleged contravention; and

(ii) the particular infringement notice provision that was allegedly contravened; and

(g) state the maximum pecuniary penalty that the court could order the person to pay under section 76 for the alleged contravention; and

(h) specify the penalty that is payable in relation to the alleged contravention; and

(i) state that the penalty is payable within the infringement notice compliance period for the notice; and

(j) state that the penalty is payable to the Commission on behalf of the Commonwealth; and

(k) explain how payment of the penalty is to be made; and

(l) explain the effect of sections 60M, 60N, 60P and 60Q.

Amount of penalty

(5) The penalty to be specified in an infringement notice that is to be issued to a person in relation to an alleged contravention of an infringement notice provision must be:

(a) if the person is a listed corporation--600 penalty units; or

(b) if the person is a body corporate other than a listed corporation--60 penalty units; or

60M Effect of compliance with an infringement notice

Scope

(1) This section applies if:

(a) an infringement notice for an alleged contravention of an infringement notice provision is issued to a person; and

(b) the person pays the penalty specified in the infringement notice within the infringement notice compliance period and in accordance with the notice; and

Effect

(2) The person is not, merely because of the payment, regarded as:

(a) having contravened the infringement notice provision; or

(b) having been convicted of an offence constituted by the same conduct that constituted the alleged contravention of the infringement notice provision.

(3) No proceedings (whether criminal or civil) may be started or continued against the person, by or on behalf of the Commonwealth, in relation to:

(a) the alleged contravention of the infringement notice provision; or

(b) an offence constituted by the same conduct that constituted the alleged contravention.

60N Effect of failure to comply with an infringement notice

If:

(a) an infringement notice for an alleged contravention of an infringement notice provision is issued to a person; and

(b) the person fails to pay the penalty specified in the infringement notice within the infringement notice compliance period and in accordance with the notice; and

the person is liable to proceedings under Part VI in relation to the alleged contravention of the infringement notice provision.

60P Infringement notice compliance period for infringement notice

(1) The infringement notice compliance period for an infringement notice is the period of 28 days beginning on the day after the day on which the infringement notice is issued by the Commission.

(2) Subsection ( 1) has effect subject to subsection ( 7).

(3) The Commission may extend, by notice in writing, the infringement notice compliance period for the notice if the Commission is satisfied that it is appropriate to do so.

(4) Only one extension may be given, and the extension must not be for longer than 28 days.

(5) Notice of the extension must be given to the person who was issued the infringement notice.

(6) A failure to comply with subsection ( 5) does not affect the validity of the extension.

(7) If the Commission extends the infringement notice compliance period for an infringement notice, a reference in this Division to the infringement notice compliance period for an infringement notice is taken to be a reference to the infringement notice compliance period as so extended.

60Q Withdrawal of an infringement notice

Representations to the Commission

(1) A person to whom an infringement notice has been issued for an alleged contravention of an infringement notice provision may make written representations to the Commission seeking the withdrawal of the infringement notice.

(2) Evidence or information that the person, or a representative of the person, gives to the Commission in the course of making representations under subsection ( 1) is not admissible in evidence against the person or representative in any proceedings (other than proceedings for an offence based on the evidence or information given being false or misleading).

Withdrawal by the Commission

(3) The Commission may, by written notice (the withdrawal notice ) given to the person to whom an infringement notice was issued, withdraw the infringement notice if the Commission is satisfied that it is appropriate to do so.

(4) Subsection ( 3) applies whether or not the person has made representations seeking the withdrawal.

Content of withdrawal notices

(5) The withdrawal notice must state:

(a) the name and address of the person; and

(b) the day on which the infringement notice was issued to the person; and

(d) that proceedings under Part VI may be started or continued against the person in relation to:

(i) the alleged contravention the infringement notice provision; or

(ii) an offence constituted by the same conduct that constituted the alleged contravention.

Time limit for giving withdrawal notices

(6) To be effective, the withdrawal notice must be given to the person within the infringement notice compliance period for the infringement notice.

Refunds

(7) If the infringement notice is withdrawn after the person has paid the penalty specified in the infringement notice, the Commission must, on behalf of the Commonwealth, refund to the person an amount equal to the amount paid.

Note: For appropriation, see section 28 of the Financial Management and Accountability Act 1997 .

60R Effect of this Division

This Division does not:

(a) require an infringement notice to be issued to a person for an alleged contravention of an infringement notice provision; or

(b) affect the liability of a person to proceedings under Part VI in relation to an alleged contravention of an infringement notice provision if:

(i) an infringement notice is not issued to the person for the alleged contravention; or

(ii) an infringement notice issued to a person for the alleged contravention is withdrawn under section 60Q; or

(c) prevent a court from imposing a higher penalty than the penalty specified in the infringement notice if the person does not comply with the notice.

4 Subsection 75B(1)

After "section", insert "60C, 60K or".

5 After subparagraph 76(1)(a)(i)

Insert:

(ii) section 60C;

(iia) section 60K;

6 After paragraph 76(1A)(b)

Insert:

(ba) for each act or omission to which this section applies that relates to section 60C or 60K--6,471 penalty units; and

7 Before paragraph 76(1B)(a)

Insert:

(aa) for each act or omission to which this section applies that relates to section 60C or 60K-- 1,295 penalty units; and

8 Paragraph 77A(3) (at the end of the definition of civil liability )

Add "or Part V".

9 Paragraph 80(1)(a)

Repeal the paragraph, substitute:

(a) a contravention of any of the following provisions:

(i) a provision of Part IV;

(ii) a provision of Division 2 or 5 of Part IVB;

(iii) section 60C;

(iv) section 60K; or

10 At the end of subsection 80(1A)

Add ", 60C or 60K".

11 After section 80

Insert:

80A Price exploitation in relation to the carbon tax repeal--orders limiting prices or requiring refunds of money

(1) If, on the application of the Commission, the Court is satisfied that a person has engaged in conduct constituting a contravention of section 60C, the Court may make either or both of the following orders:

(a) an order requiring that person, or a person involved in the contravention, not to make a regulated supply of a kind specified in the order for a price in excess of the price specified in the order while the order remains in force;

(b) an order requiring that person, or a person involved in the contravention, to refund money to a person specified in the order.

Note: Section 60C is about price exploitation in relation to the carbon tax repeal.

(2) This section does not limit section 80.

(3) In this section:

"price" has the same meaning as in Part V.

"regulated supply" has the same meaning as in Part V.

12 Subsection 82(1)

After "IVB", insert ", or of section 60C or 60K,".

13 Section 83

After "IVB", insert ", or of section 60C or 60K,".

14 Paragraphs 84(1)(b) and (3)(b)

After "IVB", insert "or V".

15 After paragraph 85(a)

Insert:

(aa) engaged in conduct in contravention of section 60C or 60K; or

16 Paragraph 86C(2)(a)

Before "a", insert "except in the case of contravening conduct that relates to section 60C or 60K--".

17 Paragraph 86C(2)(b)

Before "a probation", insert "except in the case of contravening conduct that relates to section 60C or 60K--".

18 Subsection 86C(4) ( paragraph ( a) of the definition of contravening conduct )

After "section", insert "60C, 60K or".

19 Subsection 87(1)

After "IVB", insert ", or of section 60C or 60K,".

20 Paragraph 87(1A)(a)

After "IVB", insert "or section 60C or 60K".

21 Paragraph 87(1A)(b)

Omit "45E) or Division 2 of Part IVB", substitute "45E), Division 2 of Part IVB or section 60C or 60K".

22 Paragraph 87(1B)(a)

Omit "45E) or Division 2 of Part IVB", substitute "45E), Division 2 of Part IVB or section 60C or 60K".

23 Subsection 87(1C)

Omit "or Division 2 of Part IVB", substitute ", Division 2 of Part IVB or section 60C or 60K".

24 Subsection 155AAA(21) ( paragraph ( a) of the definition of core statutory provision )

After "Part IV,", insert "V,".

25 Subsection 155AAA(21) (after paragraph ( b) of the definition of protected information )

Insert:

(ba) information that was obtained by the Commission under paragraph 60FD(2)(b) or section 60FA or 60H; or

26 Before subparagraph 163A(1)(a)(ii)

Insert:

(i) Part V;

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