Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In this Act, unless the contrary intention appears:
"excisable condensate" means condensate in respect of which subitem 21.3 of the Schedule to the Excise Tariff Act 1921 applies, or will, upon the entry of the condensate for home consumption, apply.
"excisable crude petroleum oil" means stabilised crude petroleum oil in respect of which subitem 20.5, 20.6 or 20.7 of the Schedule to the Excise Tariff Act 1921 applies, or will, upon the entry of the oil for home consumption, apply.
"final VOLWARE price" , in relation to a month and an oil producing region, means the price determined under subsection 7(3) for that month and that region.
"interim VOLWARE price" , in relation to a month and an oil producing region, means the price determined under subsection 7(2) for that month and that region.
"limited production area" means a production area that is declared to be a limited production area under subsection 6(1B).
"month" means one of the 12 months of a calendar year.
"oil producer" means a person who carries on operations for the recovery of stabilised crude petroleum oil and:
(a) if that oil is obtained from an oil producing region that is located, in whole or in part, on the landward side of the outer limits of the territorial sea of Australia--is the holder of a lease or licence (however described) authorising the obtaining of that oil or a part of that oil, being a lease or licence that is issued under the appropriate law of a State or Territory in which, or in the territorial sea adjacent to which, that region, or a part of that region, is located; or
(b) if that oil is obtained from an oil producing region that is located, in whole or in part, beyond the outer limits of the territorial sea of Australia--is a petroleum production licensee within the meaning of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 .
"oil producing region" means:
(a) a production area within the meaning of section 5B of the Excise Tariff Act 1921 , being an area from which stabilised crude petroleum oil is obtained and that is prescribed by the regulations as an oil producing region; or
(b) 2 or more production areas within the meaning of that section from which stabilised crude petroleum oil is obtained, being areas that are together so prescribed.
"production area" means a production area within the meaning of section 5B of the Excise Tariff Act 1921 :
(a) from which stabilised crude petroleum oil is obtained; and
(b) which is prescribed to be the whole or part of an oil producing region.
"reviewable decision" means:
(aa) a decision to fix a transaction price under subsection (2); or
(ab) a decision under subsection 6(1B) refusing to declare a production area to be a limited production area; or
(ac) a decision under subsection 6(1E) to revoke a declaration that a production area is a limited production area; or
(a) a determination of the final VOLWARE price for a month and an oil producing region under subsection 7(3); or
(b) a decision to fix a price for a transaction under subsection 7(6); or
(c) a decision under subsection 7(9) to amend a determination of the final VOLWARE price for a month and an oil producing region under subsection 7(3).
"transaction price" , in relation to a quantity of excisable crude petroleum oil, means, subject to subsection 7(6):
(a) where the oil producer of the oil has sold the quantity of oil--the price for which it was sold; or
(b) in any other case--the price fixed under subsection (2).
"VOLWARE commencement date" in relation to excisable crude petroleum oil obtained from an oil producing region means the date prescribed by the regulations as the date after which final VOLWARE prices and interim VOLWARE prices for each month are calculated in relation to that oil, not being a date earlier than 31 December 1987.
"VOLWARE price" means an interim VOLWARE price or a final VOLWARE price.
Effect of regulations
(1A) Regulations prescribing a production area or production areas as an oil producing region may be expressed to have had effect from 1 January 1988 or from any later day, including a day occurring before the making of the regulations, that is specified in the regulations.
(1B) Where a production area or production areas are prescribed as an oil producing region with effect from 1 January 1988 or any later day and, after that day, another production area is discovered, the regulations may provide that, with effect from the date of that discovery, the oil producing region is taken to include the production area so discovered.
(1C) Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply to regulations made for the purposes of this Act in relation to condensate.
(1D) Subsection (1C) does not apply to regulations that create, modify or otherwise affect a provision that makes a person liable to an offence or civil penalty.
Transaction price where no sale
(2) Where an oil producer of a quantity of excisable crude petroleum oil does not sell the oil but enters into a transaction under which another person takes, or is intended to take, possession of the oil (whether or not ownership in the oil passes, or is intended to pass, to another person) the Minister, or a person appointed or engaged under the Public Service Act 1999 authorised by the Minister to exercise the Minister's powers under this subsection, may, by instrument in writing, fix a transaction price in respect of that oil (being a transaction price that he or she considers to be fair and reasonable having regard to the terms of the transaction).
(3) Where the Minister or authorised person fixes a price for a transaction under subsection (2), he or she shall notify the oil producer in writing of the fixing of the price, giving reasons for it.