Commonwealth Numbered Acts

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FUEL SECURITY ACT 2021 (NO. 65, 2021) - SECT 44

Determination of margin sufficient to ensure refineries do not make a loss

             (1)  The Minister must, in writing, determine the number of cents per litre that, at the time the determination is made, the Minister estimates is likely to be the margin sufficient to ensure that refineries operating in Australia over the period starting on the day this Act commences and ending on 30 June 2027 do not make a loss.

             (2)  The Minister must make the determination before the end of the period of one month starting on the day this Act commences.

             (3)  The Minister must give a copy of the determination to any applicant under section 39 (application for fuel security services payment).

             (4)  A determination:

                     (a)  cannot be varied; and

                     (b)  cannot be revoked before 1 July 2030.

             (5)  A determination made under subsection (1) is not a legislative instrument.

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