Meaning of critical liquid fuel asset
12A Meaning of critical liquid fuel asset
An asset is a critical liquid fuel asset if it is any of the following:
a liquid fuel refinery that is critical to ensuring the security and reliability of a liquid fuel market, in accordance with subsection (2);
a liquid fuel pipeline that is critical to ensuring the security and reliability of a liquid fuel market, in accordance with subsection (3);
a liquid fuel storage facility that is critical to ensuring the security and reliability of a liquid fuel market, in accordance with subsection (4).
The rules may prescribe that a specified critical liquid fuel asset is not a critical infrastructure asset (see section 9).
For the purposes of paragraph (1)(a), the rules may prescribe:
specified liquid fuel refineries that are critical to ensuring the security and reliability of a liquid fuel market; or
requirements for a liquid fuel refinery to be critical to ensuring the security and reliability of a liquid fuel market.
For the purposes of paragraph (1)(b), the rules may prescribe:
specified liquid fuel pipelines that are critical to ensuring the security and reliability of a liquid fuel market; or
requirements for a liquid fuel pipeline to be critical to ensuring the security and reliability of a liquid fuel market.
For the purposes of paragraph (1)(c), the rules may prescribe:
specified liquid fuel storage facilities that are critical to ensuring the security and reliability of a liquid fuel market; or
requirements for a liquid fuel storage facility to be critical to ensuring the security and reliability of a liquid fuel market.
This Act’s bill:Explanatory memorandumSecond reading speech
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