Document ID: chunk:federal_register_of_legislation:F2021L01011:reg:21
Version: federal_register_of_legislation:F2021L01011
Segment Type: reg
Provision Reference: reg 21
Character Range: 32843–33971

21  Partial repayment circumstances
 (1) For subsection 51(2) of the Act, this section prescribes circumstances when an amount less than the total amount under paragraph 50(2)(a) of the Act is repayable and how to calculate that lesser repayable amount.
 (2) A lesser amount calculated under subsection (3) is repayable, in the circumstances where the start of the 120 day period under subsection 50(1) of the Act occurs after 1 January 2022 and before 30 June 2030.
 (3) The repayable amount (RA) for paragraph 50(2)(b) of the Act is given by the following formula:

where:
RC is the days remaining in the commitment period for the committed refinery after the start of the 120 day period under subsection 50(1) of the Act.
CP is the total number of days in the commitment period for the committed refinery starting from the first day of the first quarter the person subject to subsection 50(1) of the Act was eligible for fuel security services payments for the refinery.
TP is the total amount of fuel security services payments paid to the person subject to subsection 50(1) of the Act in respect of the committed refinery.