Document ID: chunk:federal_register_of_legislation:C2012A00204:clause:1_66f:p2
Version: federal_register_of_legislation:C2012A00204
Segment Type: clause
Provision Reference: sch 1 cl 66F (pt 2/2)
Character Range: 25296–26491

corresponding regulations for the financial year in which the compliance deadline occurs—that amount; or
 (ii) otherwise—an amount equal to 200% of the benchmark average auction charge for the previous financial year.
 (5) In subsection (4), corresponding regulations means regulations made for the purposes of subparagraph (d)(i) of the definition of prescribed amount for the financial year in which the compliance deadline occurs in subsection 212(3) of the Clean Energy Act 2011.

When penalty becomes due and payable
 (6) An amount payable under this section is due and payable at the end of 30 days after the compliance deadline.

Compliance
 (7) For the purposes of this section, a person relinquishes Australian‑issued international units in order to comply with a particular requirement under this Act if, and only if, the notice of relinquishment specifies the requirement.
 (8) To avoid doubt, a person may be liable to pay a penalty under this section even if:
 (a) the person is not the registered holder of any Australian‑issued international units; or
 (b) the person is not the registered holder of the number of Australian‑issued international units required to be relinquished.