Document ID: chunk:federal_register_of_legislation:C2008A00109:clause:1_6ca:p4
Version: federal_register_of_legislation:C2008A00109
Segment Type: clause
Provision Reference: sch 1 cl 6CA (pt 4/5)
Character Range: 17993–20703

the relevant percentage (set out in subsection (10)) of the sum of the amounts calculated in respect of each such applicable petroleum price in operation during the period in accordance with the formula:

where:

K is the number of kilolitres of condensate produced from that production area and entered for home consumption during that part of the period during which the applicable petroleum price was in operation.

KT is the number of kilolitres of condensate produced from that production area and entered for home consumption during the period.

P is the amount specified in the applicable petroleum price.

Q is the number of kilolitres in the quantity of condensate referred to in subsection (5).

Relevant percentage for a quantity of condensate

 (10) For the purposes of subsections (6) and (9), the relevant percentage in relation to a quantity of condensate referred to in subsection (5) is:
 (a) in the case of a quantity to which paragraph (5)(a) applies—10%; and
 (b) in the case of a quantity to which paragraph (5)(b) applies—15%; and
 (c) in the case of a quantity to which paragraph (5)(c) applies—20%; and
 (d) in the case of a quantity to which paragraph (5)(d) applies—30%.

Rounding the number of kilolitres in a quantity of condensate

 (11) For the purposes of subsections (6) and (9), the number of kilolitres in a quantity of condensate is taken to be a number equal to:
 (a) unless paragraph (b) applies—the number of kilolitres in that quantity calculated to one decimal place; or
 (b) if the number of kilolitres in that quantity calculated to 2 decimal places ends in a number greater than 4—the number of kilolitres in that quantity calculated to one decimal place increased by 0.1.

The amount of notional duty—dealing with the first year of production

 (12) When no condensate produced from a particular prescribed condensate production area was ever entered for home consumption before the end of the first month of a particular financial year, then, in ascertaining, in accordance with subsections (5), (6) and (10) or (5), (9) and (10), the notional duty in respect of condensate produced from the production area and entered for home consumption during a later month (the relevant month) of that financial year, those subsections have effect in relation to the condensate as if each reference in a paragraph of subsection (5) to B were a reference to the product of B and the factor ascertained in accordance with the formula:

where:

M is the number of days in the period commencing on the day on which condensate produced from the prescribed condensate production area was first entered for home consumption and ending on the end of the relevant month.

N is the