Document ID: chunk:federal_register_of_legislation:F2021L01011:reg:6:p1
Version: federal_register_of_legislation:F2021L01011
Segment Type: reg
Provision Reference: reg 6 (pt 1/2)
Character Range: 4713–7568

6  Applications for fuel security services payment
 (1) For paragraph 39(3)(b) of the Act, applications must meet the requirements, and include the information, required by this section.
Note: Under subsection 39(2) of the Act the application must also include the person's consent to the imposition of repayment obligations under section 50. Paragraph 39(3)(a) of the Act requires applications to be in a form (if any) approved by the Secretary under section 81 of the Act.
 (2) An application must:
 (a) set out the applicant's contact details and Australian Company Number; and
 (b) provide evidence that the applicant and refinery meet the requirements relevant to the Minister's decision under subsection 40(2) of the Act; and
 (c) include:
 (i) if the refinery is not eligible under the TRPPP—historic information to support the refining of FSSP fuels meeting the requirements of section 5; or
 (ii) if the refinery is new—a detailed explanation of how it will refine FSSP fuels meeting the requirements of section 5 and relevant regulatory approvals for the refinery; and
 (d) outline the applicant's operational and other risk mitigation policies and procedures, such as its insurance arrangements, that seek to mitigate the likelihood of the circumstances in section 20 arising; and
 (e) include a security relating to the fulfilment of any requirements to repay fuel security services payment covered by subsection (3); and
 (f) state the intended end date for the commitment period as the end of a quarter:
 (i) no earlier than the quarter ending 30 June 2027; and
 (ii) no later than the quarter ending 30 June 2030; and
 (g) if any parameter for the calculation of fuel security services payments must be determined—include that parameter and the basis of its calculation; and
 (h) include the applicant's intention to cooperate with the Department in relation to the milestone report for fuel security services payments, including through access to appropriate financial information relating to the refinery's margin and the preparation of the milestone report; and
 (i) specify the applicant's bank account and any other relevant details for receiving fuel security services payments.
 (3) For paragraph (2)(e), one of the following forms of security must be included:
 (a) a deed by the Australian controlling corporation for the applicant that:
 (i) is enforceable by the Commonwealth of Australia; and
 (ii) guarantees that the Australian controlling corporation will pay any debt due under section 50 of the Act by the applicant that has not been paid at the time it becomes due and payable; and
 (iii) requires the provision of a replacement guarantee in the event that the Australian controlling corporation is, or is reasonably likely to be, unable to meet the obligations guaranteed under subparagraph (ii); or
 (b) a bank guarantee