Fuel Security Act 2021 (Cth)

Fuel Security Act 2021

No. 65, 2021

Compilation No. 2

Compilation date: 14 October 2024

Includes amendments: Act No. 38, 2024

About this compilation

This compilation

This is a compilation of the Fuel Security Act 2021 that shows the text of the law as amended and in force on 14 October 2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents Part 1—Preliminary 1 Short title 2 Commencement 3 Objects 4 Simplified outline of this Act 5 Definitions Part 2—Minimum stockholding obligation Division 1—Introduction to this Part 6 Simplified outline of this Part Division 2—Minimum stockholding obligation 7 Minimum stockholding obligation 8 Additional responsibility of Australian controlling corporation Division 3—Entities subject to the minimum stockholding obligation 9 Entities subject to the minimum stockholding obligation 10 Triggering the minimum stockholding obligation 11 Ceasing to be subject to minimum stockholding obligation 12 Exemptions Division 4—Designated quantity of MSO product 13 Designated quantity of MSO product 14 Target number of days for stockholding 15 Notice of quantity of MSO product 16 Entity's advice about expected designated quantity 17 Application to temporarily reduce quantity of stocks of MSO product 18 Secretary's decision on temporary reduction application Division 5—Holding stocks of an MSO product 19 When an entity holds stocks of an MSO product 20 Excluded stocks 21 Stocks that are stored in Australia 22 Holder of stocks: entity owns stocks and no other entity is the holder 23 Holder of stocks: entity entitled to take ownership of stocks and no other entity is the holder 24 Holder of stocks: stocks held, reserved or quarantined for entity and no other entity is the holder 25 Taking feedstocks at refinery into account 26 Rules in relation to legally enforceable arrangements Division 6—Suspension of minimum stockholding obligation 27 Suspension by Minister 28 Application for suspension by Secretary 29 Secretary's decision on suspension application Division 7—Other duties 30 Notice of MSO activity in relation to MSO product 31 Notice of intention to cease all MSO activities in relation to MSO product 32 Secretary's decision about cessation of all MSO activities in relation to MSO product 33 Compliance audits 34 Other audits 35 Conduct of audits 36 MSO compliance plan Division 8—Assumption or division of minimum stockholding obligation 37 Determination of assumption or division of minimum stockholding obligation Part 3—Fuel security services payment Division 1—Introduction to this Part 38 Simplified outline of this Part Division 2—Fuel security services payment 39 Application for fuel security services payment 40 Decision on application 41 Commitment period 42 Payability of fuel security services payment 43 Amount of fuel security services payment 44 Determination of margin sufficient to ensure refineries do not make a loss 45 Payment of fuel security services payment 46 Publication of information Division 3—Reporting and notification obligations 47 Reporting during commitment period 48 Notification of events during commitment period 49 False or misleading information Division 4—Repayment obligations 50 Repayment if committed refinery ceases refining FSSP fuel 51 Rules in relation to repayment obligation 52 Secretary may extend period of cessation 53 Secretary must notify person of amount repayable under section 50 54 Repayment in other circumstances 55 Secretary must notify person of amount repayable under section 54 Division 5—Other matters 56 Defeasibility of statutory rights 57 Uniformity 58 Appropriation Part 4—Compliance and enforcement 59 Simplified outline of this Part 60 Monitoring powers 61 Investigation powers 62 Civil penalty provisions 63 Requirement for person to assist with applications for civil penalty orders 64 Determining pecuniary penalty for contravention of minimum stockholding obligation 65 Civil penalties for contravention of minimum stockholding obligation 66 Infringement notices 67 Penalties in infringement notices 68 Secretary may publicise certain contraventions 69 Enforceable undertakings 70 Injunctions Part 5—Other matters Division 1—Introduction to this Part 71 Simplified outline of this Part Division 2—Review of decisions 72 Reviewable decisions 73 Notice of reasons and review rights 74 Applications for reconsideration of decisions made by delegates 75 Reconsideration by responsible person 76 Deadline for reconsideration 77 Review by the Administrative Review Tribunal Division 3—Other matters 78 Further information about applications, notices and advice 79 Treatment of trusts 80 Appointment of authorised persons 81 Approved forms 82 Delegation by Minister 83 Delegation by Secretary 84 Rules Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history