Document ID: chunk:federal_register_of_legislation:F2024C00528:clause:1_11
Version: federal_register_of_legislation:F2024C00528
Segment Type: clause
Provision Reference: sch 1 cl 11
Character Range: 74669–75839

11                                                            All of the following apply:
                                                              (a) the goods are stabilised crude petroleum oil or condensate produced by a person in a financial year;
                                                              (b) excise duty has been paid on the oil or condensate;
                                                              (c) a credited adjustment amount subsequently applies to the excise duty under section 6B, 6C, 6CA or 6D of the Excise Tariff Act 1921;
                                                              (d) account is taken of the credited adjustment amount in a calculation under subsection 6B(3), 6C(3), 6CA(3) or 6D(3) of that Act;
                                                              (e) the amount ascertained under that subsection to be the amount of duty for the oil (as old oil, new oil or intermediate oil) or condensate is a negative amount (that is, an amount less than zero).
                                                              Note: See subclause (4) for the meaning of some expressions used in this item.