EXCISE TARIFF ACT 1921

SECTION 6AB

6AB APPLICABLE PETROLEUM PRICES

For the purposes of section 6B , 6C , 6CA , or 6D , at any particular time the applicable petroleum price for a month occurring after 30 June 1997 in respect of stabilized crude petroleum oil or condensate, obtained from a production area, that is a prescribed production area, a prescribed new production area, a prescribed condensate production area or a prescribed intermediate production area, as the case requires, for the purposes of that section, is:

(a) if at that time the final VOLWARE price for stabilized crude petroleum oil or condensate (as the case requires) for the month and an oil producing region that constitutes or includes that production area has been determined under section 7 of the Petroleum Excise (Prices) Act 1987 - that final VOLWARE price; or

(b) if at that time the final VOLWARE price for stabilized crude petroleum oil or condensate (as the case requires) has not been so determined - the interim VOLWARE price for stabilized crude petroleum oil or condensate (as the case requires) determined under that section for the month and an oil producing region that constitutes or includes that production area.

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History

S 6AB amended by No 134 of 2011, s 3 and Sch 1 item 1, effective 24 November 2011. For application and saving provisions see note under s 6CA(1A) .

S 6AB substituted by No 109 of 2008, s 3 and Sch 1 item 25, applicable in relation to condensate produced after midnight (by legal time in the Australian Capital Territory) on 13 May 2008. S 6AB formerly read:

SECTION 6AB APPLICABLE PETROLEUM PRICES
6AB(1)
For the purposes of section 6B , 6C or 6D , at any particular time the applicable petroleum price for a month occurring after 30 June 1997 in respect of stabilized crude petroleum oil obtained from a production area that is, under by-laws, a prescribed production area, a prescribed new production area or a prescribed intermediate production area, as the case requires, for the purposes of that section, is:

(a) if at that time the final VOLWARE price for the month and an oil producing region that constitutes or includes that production area has been determined under section 7 of the Petroleum Excise (Prices) Act 1987 - that final VOLWARE price; or

(b) if at that time the final VOLWARE price has not been so determined - the interim VOLWARE price determined under that section for the month and an oil producing region that constitutes or includes that production area.
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History

S 6AB(1) amended by No 25 of 2001, s 3 and Sch 7 item 13, by substituting " by-laws " for " Departmental By-laws " , effective 4 May 2001.

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