Document ID: chunk:federal_register_of_legislation:F2022C00635:reg:5:p2
Version: federal_register_of_legislation:F2022C00635
Segment Type: reg
Provision Reference: reg 5 (pt 2/2)
Character Range: 5224–6805

bank operating in Australia in respect of overdrafts of $100,000 or more.
mid‑rate, for a foreign currency for a day, is the rate, expressed as an amount in that currency that is equivalent to the Australian dollar, quoted by the Reserve Bank as at 4 pm (by legal time in the Australian Capital Territory) on that day.
number of credit days allowed, under a contract for the sale of crude petroleum oil or condensate, means the number of days in any period within which payment of the sale price is to be made under the contract. The contract need not specify the duration of that period in terms of days.
Example 1: That period specified in contract A is 21 days. Paragraph 9(1)(a) would apply to the contract as no more than 30 credit days are allowed under the contract.
Example 2: That period specified in contract B is 5 weeks. Paragraph 9(1)(b) would apply to the contract as more than 30 credit days are allowed under the contract.
relevant delivery price has the meaning given by subsection 10(1).
sale price:
 (a) for a contract for the sale of a quantity of crude petroleum oil by an oil producer, means the total amount payable to the producer under that contract for that quantity of oil; and
 (b) for a contract for the sale of a quantity of condensate by a condensate producer, means the total amount payable to the producer under that contract for that quantity of condensate.
supply, for an amount of GST payable, has the meaning given by section 195‑1 of the A New Tax System (Goods and Services Tax) Act 1999.
the Act means the Petroleum Excise (Prices) Act 1987.