134ARemission of unit shortfall charge—voluntary disclosure by liable entity of incorrect emissions number

#### 134A Remission of unit shortfall charge—voluntary disclosure by liable entity of incorrect emissions number 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 number specified in the report as the person’s emissions number for the eligible financial year: (i) is incorrect; and (ii) is less than the person’s emissions number for the eligible financial year; and (c) after 1 February next following the eligible financial year, the person voluntarily discloses to the Regulator that the number specified in the report is incorrect; and (d) the disclosure was made before any relevant investigative action was taken; and (e) the person has a unit shortfall for the eligible financial year; and (f) the person applies to the Regulator for the remission of a part of the amount of the unit shortfall charge imposed on the unit shortfall. Power to remit (2) The Regulator may remit a part of the amount of the unit shortfall charge if the Regulator is satisfied that it would be fair and reasonable to remit that part, having regard to: (a) the circumstances that resulted in the incorrect number being specified in the report; and (b) whether the person took reasonable precautions, and exercised due diligence, to avoid the incorrect number being specified in the report; and (c) such other matters (if any) as the Regulator considers relevant. Limit on amount remitted (3) The Regulator must not remit a part of the amount of the unit shortfall charge if the remainder of the amount would be less than the amount worked out using the formula:  where: > applicable amount for the financial year means: (a) if the eligible financial year is a fixed charge year—an amount equal to the per unit charge applicable under subsection 100(1) for the issue of a carbon unit with a vintage year of that fixed charge year; or (b) if the eligible financial year is a flexible charge year—an amount equal to the benchmark average auction charge for the previous financial year. Refusal (4) If the Regulator decides to refuse to remit a part of the unit shortfall charge, the Regulator must give written notice of the decision to the person. Relevant investigative action (5) For the purposes of this section, if the Regulator gives the person a notice under Subdivision G of Division 4 of Part 6 of the National Greenhouse and Energy Reporting Act 2007, the giving of the notice is a relevant investigative action. (6) For the purposes of this section, if: (a) an inspector enters premises under Part 15; and (b) the inspector does so for the purpose of: (i) determining whether the person complied with this Act or the associated provisions; or (ii) substantiating information provided by the person under this Act or the associated provisions; the entry is a relevant investigative action. (7) For the purposes of this section, if: (a) the Regulator gives the person a notice under section 221; and (b) the Regulator does so because the Regulator believes on reasonable grounds that the person has information or a document that is relevant to the operation of this Act or the associated provisions in relation to the person; the giving of the notice is a relevant investigative action. (8) For the purposes of this section, if: (a) the Regulator gives the person a notice under section 71 of the National Greenhouse and Energy Reporting Act 2007; and (b) the Regulator does so because the Regulator has reason to believe that the person has information relating to whether the person has complied with that Act; the giving of the notice is a relevant investigative action. (9) For the purposes of this section, if: (a) an authorised officer (within the meaning of the National Greenhouse and Energy Reporting Act 2007) enters premises under Division 4 of Part 6 of that Act; and (b) the authorised officer does so for the purpose of determining whether that Act has been complied with by the person; the entry is a relevant investigative action.