Commonwealth Numbered Acts

FUEL SECURITY ACT 2021 (NO. 65, 2021) - SECT 14

             (1)  The Minister must, by notifiable instrument, declare a target number of days for the purposes of the minimum stockholding obligation.

             (2)  The target number of days may be different for different MSO activities and MSO products.

             (3)  In declaring the target number of days, the Minister must have regard to:

                     (a)  the emergency reserve commitment within the meaning of Article 2 of the International Energy Agreement; and

                     (b)  the objects of this Act; and

                     (c)  any other matter the Minister considers relevant.

             (4)  Any rules made for the purposes of subsections 10(3), 15(3) and 16(3) must provide for the target number of days declared under subsection (1) of this section to be taken into account in determining the quantity or expected quantity of stocks of an MSO product.