Commonwealth Numbered Acts

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FUEL SECURITY ACT 2021 (NO. 65, 2021) - SECT 15

Notice of quantity of MSO product

             (1)  If, at the start of a notice window, an entity is subject to the minimum stockholding obligation in relation to an MSO product, the Secretary must, before the end of the notice window, give the entity a written notice in accordance with this section.

             (2)  The notice must specify the quantity (in megalitres) of stocks of the product the entity must hold on the obligation days for which the notice is in force.

Note:          A decision to specify a particular quantity of the product is a reviewable decision and reasons and notice of review rights must be given (see sections 72 and 73).

             (3)  The Secretary must determine the quantity in accordance with the rules.

Note:          See also subsection 14(4).

             (4)  The notice is in force for obligation days that occur in the period:

                     (a)  starting on the day specified in the notice as the day the notice comes into force (which must be at least 3 months after the day the notice is given); and

                     (b)  ending on the day before another notice given to the entity in relation to the product under this section comes into force.

Note:          A notice under this section ceases to be in force during any temporary reduction period for the entity in relation to the product, and comes back into force when that period ends (see subsections 18(3) and (4)).

             (5)  A notice window is a period prescribed by the rules.

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