Document ID: chunk:federal_register_of_legislation:C2025C00166:section:4:p3
Version: federal_register_of_legislation:C2025C00166
Segment Type: section
Provision Reference: s 4 (pt 3/3)
Character Range: 7929–8871

person liable to an offence or civil penalty.

Transaction price where no sale
 (2) Where an oil producer of a quantity of excisable crude petroleum oil does not sell the oil but enters into a transaction under which another person takes, or is intended to take, possession of the oil (whether or not ownership in the oil passes, or is intended to pass, to another person) the Minister, or a person appointed or engaged under the Public Service Act 1999 authorised by the Minister to exercise the Minister's powers under this subsection, may, by instrument in writing, fix a transaction price in respect of that oil (being a transaction price that he or she considers to be fair and reasonable having regard to the terms of the transaction).
 (3) Where the Minister or authorised person fixes a price for a transaction under subsection (2), he or she shall notify the oil producer in writing of the fixing of the price, giving reasons for it.