152Amendment of prescribed scheme targets

152 Amendment of prescribed scheme targets

152 Amendment of prescribed scheme targets

(1) A regulation made under clause 151(5) to amend a scheme target for a renewable fuel must not reduce the amount of gigajoules prescribed as the scheme target for the renewable fuel for a compliance period.

(2) A regulation made under clause 151(5) to amend a scheme target for a renewable fuel may be made only if the Minister is satisfied that the change to the scheme target for the renewable fuel is appropriate—

(a) for the purposes of achieving greater uniformity or harmonisation with a scheme in another jurisdiction with similar objectives to the renewable fuel scheme, or

(b) for the purposes of implementing a national scheme with similar objectives to the renewable fuel scheme, or

(c) because of an over supply of certificates that may be surrendered, as evidenced in the way set out in the regulations, or

(d) because of significant changes to the scheme rules relating to the creation of certificates, or

(e) because of significant changes to the policy or regulatory framework, or the market conditions, in which the renewable fuel scheme operates.