Commonwealth Consolidated Acts

FUEL SECURITY ACT 2021 - SECT 3

  (1)   The objects of this Act are the following:

  (a)   to improve security and confidence in Australia's fuel supplies;

  (b)   to support sovereign capability to maintain fuel supplies;

  (c)   to contribute to meeting Australia's obligations under the International Energy Agreement;

  (d)   to assist in preventing disruptions in fuel supplies.

  (2)   The objects are to be achieved by:

  (a)   requiring the holding of minimum quantities of stocks of certain fuels in Australia; and

  (b)   making payments for production of refined fuels to support the contribution made by refineries in Australia to the security of Australia's fuel supplies.