Commonwealth Numbered Regulations

EXCISE REGULATIONS (AMENDMENT) 1997 No. 388 - REG 2

2.1 Paragraph 50 (1) (s): Omit the paragraph, substitute:

"(s) for a quantity of stabilised crude petroleum oil (unless paragraph (sc)
applies to the oil):

        (i)    excise duty has been paid (whether before or after the
               commencement of this provision); and

        (ii)   because of an error in measurement or calculation of the
               quantity of the oil, the duty paid is more than the correct
               amount;".

2.2 New paragraphs 50 (1) (sa), (sb) and (sc): After paragraph 50 (1) (s),
insert:

"(sa) for stabilised crude petroleum oil produced by a person in a financial
year:

        (i)    section 6B, 6C or 6D of the Excise Tariff Act 1921 applies; and

        (ii)   excise duty has been paid for oil entered for home consumption
               in a month of the financial year; and

        (iii)  a Collector is satisfied that the quantity of oil that is
               likely to be entered by the person for home consumption for the
               financial year will be less than a dutiable quantity;

"(sb) for stabilised crude petroleum oil produced by a person in a financial
year:

        (i)    section 6B, 6C or 6D of the Excise Tariff Act 1921 applies; and

        (ii)   excise duty for the oil for each month of the financial year
               has been ascertained under that section; and

        (iii)  the duty ascertained has been paid; and

        (iv)   the total duty paid is more than the total duty payable on the
               total quantity of oil entered by the person for home
               consumption during the financial year;

"(sc) for stabilised crude petroleum oil produced by a person in a financial
year:

        (i)    excise duty has been paid in relation to which a credited
               adjustment amount subsequently applies under section 6B, 6C or
               6D of the Excise Tariff Act 1921; and

        (ii)   account is taken of the credited adjustment amount in a
               calculation under subsection 6B (3), 6C (3) or 6D (3), as
               appropriate, of that Act; and

        (iii)  the amount ascertained under that subsection to be the amount
               of duty for the oil to which the subsection applies (that is,
               relevant oil, new oil or intermediate oil, as the case may be)
               is a negative amount (that is, an amount less than zero);".

2.3 New subregulations 50 (4AA) and (4AB): After subregulation 50 (4), insert:

"(4AA) For paragraph (1) (sa):
'dutiable quantity' means the quantity worked out using the formula:

   (a)  for oil to which section 6B of the Excise Tariff Act 1921 applies: A x
        B; or

   (b)  for oil to which section 6C of the Excise Tariff Act 1921 applies: A x
        10B; or

   (c)  for oil to which section 6D of the Excise Tariff Act 1921 applies: A x
        6B; where: A is the number of days in the financial year concerned;
        and B has the same meaning as it has in section 6B, 6C or 6D of the
        Excise  Tariff Act 1921 , as appropriate.

"(4AB) For paragraph (1) (sc):
'credited adjustment amount' has the same meaning as in section 6B, 6C or 6D
of the Excise Tariff Act 1921, as appropriate;
'intermediate oil' has the same meaning as in subsection 3 (1) of the
Excise Tariff Act 1921;
'new oil' has the same meaning as in subsection 3 (1) of the Excise  Tariff
Act 1921 ;
'relevant oil' has the same meaning as in section 6B of the Excise  Tariff Act
1921 .".