Fuel Security (Consequential and Transitional Provisions) Act 2021 (66 of 2021)

Schedule 1   Consequential amendments

Part 1   Main consequential amendments

Petroleum and Other Fuels Reporting Act 2017

10   At the end of Part 2

Add:

13A Civil penalty for false or misleading information relating to Fuel Security Act 2021

A person must not, in a report under section 11, provide information that:

(a) relates to:

(i) whether a regulated entity that is subject to the minimum stockholding obligation under the Fuel Security Act 2021 is complying with section 7 of that Act; or

(ii) whether fuel security services payment is payable to a constitutional corporation under the Fuel Security Act 2021; and

(b) is false or misleading in a material particular, or omits a matter or thing without which the information is misleading in a material particular.

Civil penalty: 300 penalty units.

13B Compliance audits relating to the Fuel Security Act 2021

(1) The rules may make provision in relation to the auditing of compliance with section 11, so far as that section relates to the giving of reports that relate to:

(a) MSO activities undertaken in relation to MSO products by regulated entities; or

(b) the refining of FSSP fuels.

(2) Without limiting subsection (1), rules made for the purposes of that subsection may do any of the following:

(a) empower the Secretary to require an audit to be conducted;

(b) prescribe matters to which an audit may relate or be required by the Secretary to relate;

(c) prescribe persons who are authorised to conduct audits;

(d) require reports of audits to accompany reports given under section 11 or otherwise be given to the Secretary.

(3) The following expressions used in subsection (1)have the same meaning as in the Fuel Security Act 2021:

(a) FSSP fuels;

(b) MSO activity;

(c) MSO product;

(d) regulated entity.

13C Duty to provide reasonable facilities and assistance for audit

(1) A person affected by an audit required to be conducted under rules made for the purposes of subsection 13B(1) must provide the person conducting the audit (the audit team leader ), and any person assisting the audit team leader in the conduct of the audit, with all reasonable facilities and assistance necessary for the effective exercise of the audit team leader's duties in relation to the audit.

Civil penalty: 250 penalty units.

(2) A person is affected by an audit if the person is any of the following:

(a) the person being audited;

(b) if the audit relates to compliance with section 11 so far as that section relates to the giving of reports that relate to MSO activities undertaken in relation to MSO products by a regulated entity:

(i) the regulated entity; or

(ii) if the regulated entity has an Australian controlling corporation - the Australian controlling corporation; or

(iii) any entity in possession of stocks of an MSO product that are held (within the meaning of section 19 of the Fuel Security Act 2021) by the regulated entity;

(c) if the audit relates to compliance with section 11 so far as that section relates to the giving of reports that relate to the refining of FSSP fuels by a constitutional corporation - the constitutional corporation.

(3) The following expressions used in subsection (2)have the same meaning as in the Fuel Security Act 2021:

(a) FSSP fuels;

(b) MSO activity;

(c) MSO product;

(d) regulated entity.

13D Duty to comply with requirements in relation to report of audit

(1) A person who is required to give the Secretary a report under section 11 must comply with any rules prescribed for the purposes of subsection 13B(1) requiring a report of an audit to accompany the report under section 11.

Civil penalty: 250 penalty units.

(2) A person who is required by any rules prescribed for the purposes of subsection 13B(1) to give a report of an audit to the Secretary must give the report of the audit to the Secretary in accordance with the rules.

Civil penalty: 250 penalty units.