Document ID: chunk:federal_register_of_legislation:C2025C00166:section:4:p2
Version: federal_register_of_legislation:C2025C00166
Segment Type: section
Provision Reference: s 4 (pt 2/3)
Character Range: 5465–8160

(a) from which stabilised crude petroleum oil is obtained; and
 (b) which is prescribed to be the whole or part of an oil producing region.
reviewable decision means:
 (aa) a decision to fix a transaction price under subsection (2); or
 (ab) a decision under subsection 6(1B) refusing to declare a production area to be a limited production area; or
 (ac) a decision under subsection 6(1E) to revoke a declaration that a production area is a limited production area; or
 (a) a determination of the final VOLWARE price for a month and an oil producing region under subsection 7(3); or
 (b) a decision to fix a price for a transaction under subsection 7(6); or
 (c) a decision under subsection 7(9) to amend a determination of the final VOLWARE price for a month and an oil producing region under subsection 7(3).
transaction price, in relation to a quantity of excisable crude petroleum oil, means, subject to subsection 7(6):
 (a) where the oil producer of the oil has sold the quantity of oil—the price for which it was sold; or
 (b) in any other case—the price fixed under subsection (2).
VOLWARE commencement date in relation to excisable crude petroleum oil obtained from an oil producing region means the date prescribed by the regulations as the date after which final VOLWARE prices and interim VOLWARE prices for each month are calculated in relation to that oil, not being a date earlier than 31 December 1987.
VOLWARE price means an interim VOLWARE price or a final VOLWARE price.

Effect of regulations
 (1A) Regulations prescribing a production area or production areas as an oil producing region may be expressed to have had effect from 1 January 1988 or from any later day, including a day occurring before the making of the regulations, that is specified in the regulations.
 (1B) Where a production area or production areas are prescribed as an oil producing region with effect from 1 January 1988 or any later day and, after that day, another production area is discovered, the regulations may provide that, with effect from the date of that discovery, the oil producing region is taken to include the production area so discovered.
 (1C) Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply to regulations made for the purposes of this Act in relation to condensate.
 (1D) Subsection (1C) does not apply to regulations that create, modify or otherwise affect a provision that makes a 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