Document ID: chunk:federal_register_of_legislation:C2024C00257:section:6ca:p1
Version: federal_register_of_legislation:C2024C00257
Segment Type: section
Provision Reference: s 6CA (pt 1/6)
Character Range: 56344–59153

6CA  Duties of excise on condensate

Definitions
 (1) In this section:
adjusted previous year's duty, in relation to a prescribed condensate production area in relation to a month of a financial year, means the amount of duty that, at the end of the financial year immediately preceding the financial year in which that month occurs, would have been payable in respect of condensate produced from that area and entered for home consumption during that preceding year if, for the prices that were, at the end of that preceding year, the applicable petroleum prices for all of the months of that preceding year, there had been substituted the prices that are, at the end of that first‑mentioned month, the respective applicable petroleum prices for all of those months.
non‑adjusted previous year's duty, in relation to a prescribed condensate production area in relation to a month of a financial year, means the amount of duty that, at the end of the financial year immediately preceding the financial year in which that month occurs, would have been payable in respect of condensate produced from that area and entered for home consumption during that preceding year if, for the prices that were, at the end of that preceding year, the applicable petroleum prices for all of the months of that preceding year, there had been substituted the prices that were, immediately before the commencement of that first‑mentioned month, the respective applicable petroleum prices for all of those months.
prescribed condensate production area has the meaning given by subsection (1A).
 (1A) Prescribed condensate production area means any of the following:
 (a) a condensate production area prescribed by by‑laws (which, without limiting the generality of the foregoing, may be a relevant accumulation, a well, an oilfield or a gas field);
 (b) the Rankin Trend (see subsection (1B)).
Note: A by‑law may be expressed to commence before the day it is registered under the Legislation Act 2003 (see subsection 12(1A) of that Act).
 (1B) The Rankin Trend means the area that includes the following:
 (a) the reservoirs, or groups of reservoirs, known as:
 (i) North Rankin; and
 (ii) Perseus; and
 (iii) Searipple; and
 (iv) Goodwyn; and
 (v) Keast/Dockrell; and
 (vi) Echo/Yodel;
 (b) other reservoirs, or groups of reservoirs, (if any) that are specified in the regulations made for the purposes of this paragraph.
 (1C) Before the Governor‑General makes a regulation specifying a reservoir, or a group of reservoirs, for the purposes of paragraph (1B)(b):
 (a) the Resources Minister must be satisfied that the reservoir, or the group of reservoirs, is part of the same field as a reservoir or group of reservoirs mentioned in paragraph (1B)(a); and
 (b) if the Resources Minister is so satisfied—the Resources Minister