Renewable Energy (Electricity) Act 2000

If the liable entity lodged an energy acquisition statement for the previous year before 1 April in the assessment year, the liable entity may apply to the Regulator to have an amount (the proposed amount) apply instead of the previous year’s reduced acquisitions for the purpose of applying section 38AE to the assessment year.

The application must:

specify the proposed amount; and

be made before 1 October in the assessment year.

For other provisions relating to the making of applications, see section 38AI.

The Regulator must consider the application and must, in writing:

determine that the proposed amount, or a different amount, is to apply instead of the amount of the previous year’s reduced acquisitions; or

refuse to make such a determination.

A determination under subsection (3) is not a legislative instrument.

In relation to the Regulator’s power to determine an amount that is different from the proposed amount:

a different amount determined by the Regulator must not be less than the proposed amount and must not exceed the previous year’s reduced acquisitions; and

before determining a different amount, the Regulator must:

invite the liable entity to comment on the amount that the Regulator proposes to determine; and

consider the liable entity’s comments (if any).

If the Regulator determines an amount under paragraph (3)(a) then, subject to subsection (7), section 38AE applies to the entity and the assessment year as if the amount determined were the previous year’s reduced acquisitions.

If the assessment year’s reduced acquisitions exceed the amount determined by more than the prescribed percentage of the amount determined, then:

subsection (6) does not apply; and

references in section 38AE to the previous year’s reduced acquisitions are instead taken to be references to the assessment year’s reduced acquisitions.

The Regulator must give the liable entity written notice of the Regulator’s decision in relation to the application.

The Regulator must comply with any requirements prescribed by the regulations in relation to the exercise of the Regulator’s functions or powers under this section.