Petroleum Excise (Prices) Regulations (Amendment) (Cth)

Statutory Rules 1997

No. 166 1

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Petroleum Excise (Prices) Regulations 2(Amendment)

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and under section 4 of the Acts Interpretation Act 1901, make the following Regulations under the Petroleum Excise (Prices) Act 1987.

Dated 25 June 1997.

 WILLIAM DEANE

 Governor-General

By His Excellency’s Command,

WARWICK PARER

Minister for Resources and Energy

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1.   Commencement

1.1   These Regulations commence on 1 July 1997.

2.   Amendment

2.1   The Petroleum Excise (Prices) Regulations are amended as set out in these Regulations.

3.   Regulation 2 (Interpretation)

3.1   Subregulation 2 (1) (definition of “Reuters Database Services”):

Omit the definition.

4.   Regulation 2A (Oil producing regions and VOLWARE commencement dates)

4.1   Subregulation 2A (1):

Omit the subregulation, substitute:

 “(1) For the definitions of ‘oil producing region’ and ‘production area’ in subsection 4 (1) of the Act:

• (a)

  if 1 production area is mentioned in column 3 of an item in the Schedule—that production area is the oil producing region mentioned in column 2 of the item; and

• (b)

  if more than 1 production area is mentioned in column 3 of an item in the Schedule—those production areas, together, are the oil producing region mentioned in column 2 of the item.”.

5.   Regulation 3 (Definition of reference price)

5.1   Omit the regulation.

6.   Regulation 4 (Transactions entered into: prescribed information)

6.1   Subregulation 4 (1):

Omit all the words before paragraph (a), substitute “For subsection 6 (1) of the Act, the following information must be given to the Minister by an oil producer of excisable crude petroleum oil produced from an area (except a limited production area), entered for home consumption in a month, in respect of each transaction concerning the oil:”.

6.2   Subregulation 4 (2):

Omit the subregulation, substitute:

 “(2) For subsection 6 (1) of the Act, if the transaction entered into by the oil producer relates to excisable crude petroleum oil produced from a limited production area, the information that must be given to the Minister by the producer is the volume of the oil entered for home consumption by the producer in each month.

 “(3) If an oil producer is required to give an amount, the producer must give:

• (a)

  the actual amount; or

• (b)

  if this is not reasonably practicable—the producer’s best estimate of the amount.

 “(4) If an oil producer gives an estimated amount, the producer must state that the amount is an estimate.”.

7.   Regulation 5 (Transaction prices: manner of calculating)

7.1   Omit “15” (wherever occurring), substitute “30”.

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NOTES

1. Notified in the Commonwealth of Australia Gazette on 30 June 1997.

2. Statutory Rules 1988 No. 22 as amended by 1989 No. 352; 1991 Nos. 68, 177 and 299; 1992 No. 410; 1996 No. 84.