Document ID: chunk:federal_register_of_legislation:C2024C00688:section:24
Version: federal_register_of_legislation:C2024C00688
Segment Type: section
Provision Reference: s 24
Character Range: 30659–31569

24  Holder of stocks: stocks held, reserved or quarantined for entity and no other entity is the holder
  For the purposes of paragraph 19(a), an entity (entity 1) is the holder of stocks of an MSO product if:
 (a) another entity (entity 2) owns the stocks; and
 (b) the stocks are being stored in Australia by entity 1, entity 2 or another entity; and
 (c) a legally enforceable arrangement, that meets any requirements prescribed by the rules, is in force between entity 1 and entity 2 under which the stocks are held, reserved or quarantined (however described) by entity 2 for entity 1, for a specified period; and
 (d) during the period, entity 1 gives reports in relation to the stocks under the Petroleum and Other Fuels Reporting Act 2017, in relation to the covered activity of holding stocks of a covered product (whether or not entity 2 also gives such reports); and
 (e) the period has not ended.