Commonwealth Consolidated Acts

FUEL SECURITY ACT 2021 - SECT 24

    For the purposes of paragraph   19(a), an entity ( entity 1 ) is the holder of stocks of an MSO product if:

  (a)   another entity ( entity 2 ) owns the stocks; and

  (b)   the stocks are being stored in Australia by entity 1, entity 2 or another entity; and

  (c)   a legally enforceable arrangement, that meets any requirements prescribed by the rules, is in force between entity 1 and entity 2 under which the stocks are held, reserved or quarantined (however described) by entity 2 for entity 1, for a specified period; and

  (d)   during the period, entity 1 gives reports in relation to the stocks under the Petroleum and Other Fuels Reporting Act 2017 , in relation to the covered activity of holding stocks of a covered product (whether or not entity 2 also gives such reports); and

  (e)   the period has not ended.