119Assessment of emissions number—incorrect report given by liable entity

#### 119 Assessment of emissions number—incorrect report given by liable entity Scope (1) This section applies if: (a) a report relating to an eligible financial year was given under section 22A of the National Greenhouse and Energy Reporting Act 2007 by a person who was a liable entity for the eligible financial year; and (b) the report was given before the end of 4 months after the end of the eligible financial year; and (c) the Regulator has reasonable grounds to believe that the number specified in the report as the person’s emissions number for the eligible financial year is incorrect. Assessment (2) The Regulator may: (a) make an assessment of the person’s emissions number for the eligible financial year; and (b) give written notice of the assessment to the person. (3) A notice of assessment under paragraph (2)(b) must be accompanied by: (a) if the assessment was made before the end of 1 February next following the eligible financial year—a statement explaining that the person may need to acquire and surrender eligible emissions units to avoid being liable for unit shortfall charge; or (b) otherwise—a statement explaining that the person may be liable to pay: (i) unit shortfall charge; and (ii) late payment penalty under section 135 in respect of that unit shortfall charge. Amendment of assessments (4) The Regulator may amend an assessment under this section at any time. (5) The Regulator may exercise the power conferred by subsection (4): (a) on written application being made to the Regulator by the person to whom the assessment relates; or (b) on the Regulator’s own initiative. (6) If the Regulator amends an assessment, the Regulator must give written notice of the amendment to the person to whom the assessment relates. (7) If: (a) the Regulator decides to refuse to amend an assessment; and (b) the Regulator made the decision in response to an application by the person to whom the assessment relates; the Regulator must give written notice of the decision to the person. (8) For the purposes of this Act, an amended assessment is taken to be an assessment under this section. Advisory character of assessment (9) A notice of assessment under this section is an instrument of an advisory character.