Document ID: chunk:federal_register_of_legislation:C2025C00166:section:7:p3
Version: federal_register_of_legislation:C2025C00166
Segment Type: section
Provision Reference: s 7 (pt 3/3)
Character Range: 20591–22594

considers that:
 (a) the parties to any transaction concerning the oil were not dealing at arm's length in relation to that transaction; and
 (b) the price set out is less than the amount that could reasonably be expected to be the price if the parties had been dealing at arm's length.
 (7) Where the Minister or authorised person fixes a price for a transaction under subsection (6), he or she shall notify the oil producer in writing of the fixing of the price, giving the reasons for it.
 (8) The fact that a transaction price for a particular transaction has not been fixed, under subsection (6), for the purpose of determining the interim VOLWARE price for a month and an oil producing region does not preclude the fixing of a transaction price for that transaction, under subsection (6), for the purposes of determining the final VOLWARE price for that month and that region.
 (9) Subject to subsection (10), the Minister, or a person authorised by the Minister to exercise the Minister's powers under this section, may, at any time after a final VOLWARE price is determined under subsection (3), amend the determination if he or she is satisfied that the determination is incorrect because of:
 (a) the making of an error in calculation or a mistake of fact; or
 (b) the giving of information that was inaccurate or incomplete to the Minister or authorised person.
 (10) The Minister or authorised person shall not, under subsection (9), amend a determination after the expiration of 3 years from the day on which the determination was made unless he or she is satisfied that the determination is incorrect because information given to the Minister or authorised person is inaccurate or incomplete due to the fraud or evasion of an oil producer.
 (11) For the purposes of this Act (other than subsection (9) of this section) and the Acts referred to in section 3, where a determination has been amended under subsection (9), it has effect, as so amended, as a determination under subsection (3).