163Penalty rates

#### 163 Penalty rates 163 Penalty rates > > (1) The scheme penalty rate for a compliance period is the rate prescribed by the regulations. > > > (2) A regulation to prescribe or amend an existing prescribed scheme penalty rate for a compliance period must be made at least 12 months before the beginning of the compliance period. > > > (3) A regulation to amend a prescribed scheme penalty rate for a compliance period may be made only if the Minister is satisfied that the change to the prescribed scheme penalty rate 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. > > > (4) Subclauses (2) and (3) do not apply to a regulation that provides for the adjustment of scheme penalty rates for movements in the consumer price index.