Petroleum Excise (Prices) Amendment Act 1997 (79 of 1997)

Schedule 1   Amendment of the Petroleum Excise (Prices) Act 1987

Petroleum Excise (Prices) Act 1987

9   After subsection 7(3)

Insert:

(3A) In spite of subsections (2) and (3), neither the Minister nor a person authorised by the Minister to exercise the Minister's powers under this section is required to determine an interim VOLWARE price, or a final VOLWARE price, in respect of an oil producing region and a month if, at all times during that month:

(a) if the region consists of a single production area - there is in force a declaration under subsection 6(1B) that that area is a limited production area; or

(b) if the region consists of 2 or more production areas - there are in force declarations under subsection 6(1B) that each of those areas is a limited production area.

(3B) Nothing in subsection (3A) affects the obligation of the Minister or of a person authorised by the Minister to exercise the Minister's powers under this section to determine an interim VOLWARE price, or a final VOLWARE price, in respect of an oil producing region and a month if a declaration under subsection 6(1B) relating to a production area in that region that was in force during that month is subsequently revoked.