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Electricity Supply Act 1995
162Penalties for shortfalls
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162 Penalties for shortfalls
162 Penalties for shortfalls
(1) A scheme participant who has a shortfall for a compliance period must pay a penalty for the compliance period (a shortfall penalty).
(2) The amount of the shortfall penalty is the amount, in dollars, calculated by multiplying the shortfall by the scheme penalty rate.
(3) The amount must be rounded down to the nearest whole number of dollars.
(4) Regulations may be made in relation to the assessment of the amount of a shortfall penalty payable by a scheme participant, including self-assessment or assessment by the Scheme Regulator.