Document ID: chunk:federal_register_of_legislation:F2023C00357:reg:37
Version: federal_register_of_legislation:F2023C00357
Segment Type: reg
Provision Reference: reg 37
Character Range: 32878–33777

37  What an MSO compliance plan must contain—compliance pathway
 (1)  An MSO compliance plan must list the steps and strategies the entity:
 (a) is taking to comply with its MSO; and
 (b) intends to take if it becomes aware of future or current non-compliance, including relevant contingency plans; and
 (c) if the entity is not compliant—is taking to bring the entity back into compliance and avoid future non-compliance.
 (2) The steps and strategies the entity is taking to comply with its MSO may include any of the following:
 (a) building more storage;
 (b) increasing import frequency;
 (c) arrangements to hold stocks under sections 23 or 24 of the Act;
 (d) adapting current business practices.
 (3) If the entity intends to allow its stock to be held by another under section 23 or 24 of the Act, the MSO compliance plan must set out the entity's approach and processes for that to occur.