Document ID: chunk:federal_register_of_legislation:F2021L01011:reg:10
Version: federal_register_of_legislation:F2021L01011
Segment Type: reg
Provision Reference: reg 10
Character Range: 10353–12519

10  Variation or termination of commitment period
 (1) For subsection 41(3) of the Act, the requirements in this section are prescribed.
 (2) A commitment period must not be varied or terminated other than as prescribed under subsection (3) or (4).
 (3) If an application under subsection 41(2) of the Act is made to request a variation to extend a commitment period to 30 June 2030, the Minister must approve the application and extend the period to 30 June 2030 unless satisfied that the requirements of subsection 40(2) of the Act (other than paragraph 8(2)(e) of this instrument) are no longer met.
 (4) If an application under subsection 41(2) of the Act is made to request a variation to terminate or shorten a commitment period to a date specified in the application, the Minister must approve the application and make the termination or variation if:
 (a) the Minister is satisfied:
 (i) information required to be reported by section 17 has been provided to the Minister; and
 (ii) the circumstances for when repayment would not be required in section 20 would be met if the refinery closed on the last day of the varied or terminated commitment period; or
 (b) all payments made under Part 3 of the Act in relation to the committed refinery that would be repayable under section 21 have been repaid to the Commonwealth (assuming the repayment day was the start of the 120 day period for that section and the period was not varied under this section) and no further fuel security services payments would be made to the applicant after the variation or termination; or
 (c) the Minister is satisfied that the Act, this instrument or guidelines made under subsection 43(4) of the Act have been amended to materially reduce the payments under Part 3 of the Act in respect of the committed refinery in the 180 days before an application under subsection 41(2) of the Act to terminate or vary the period.
 (5) The end date of a commitment period varied or terminated in accordance with subsection 10(3) may be before the date of the application under subsection 41(2) of the Act if requested in that application.
Part 5—Payment of fuel security services payment