224Annual report by Scheme Regulator

224 Annual report by Scheme Regulator

224 Annual report by Scheme Regulator

(1) As soon as practicable after 30 June in each year, the Scheme Regulator must prepare a report on the extent to which scheme participants have complied, or failed to comply, with individual certificate targets during the previous year (the reporting year).

(2) The report must be provided to the Minister on or before—

(a) the date prescribed by the regulations, or

(b) if the regulations do not prescribe a date—31 August in the same year.

(3) Without limiting subclause (1), the report must contain the following—

(a) the name of each scheme participant during the reporting year,

(b) a summary of each scheme participant’s performance in relation to the participant’s individual certificate targets for the reporting year,

(c) the total number of certificates surrendered during the reporting year,

(d) the total number of certificates created during the reporting year,

(e) the total number of certificates created in previous years and not surrendered before the beginning of the reporting year,

(f) an assessment of the extent of an over supply of certificates that may be surrendered during the reporting year,

(g) an estimate, prepared by the Scheme Administrator, of the actual amount of renewable fuels produced during the reporting year, having regard to the number of certificates created.

(4) For the purposes of subclause (3), a certificate created under an approved corresponding scheme that is not able to be surrendered by a scheme participant for the purposes of meeting its individual certificate target or remedying a carried forward shortfall is to be disregarded.

(5) The report must also set out—

(a) the functions delegated by the Scheme Regulator or Scheme Administrator, and

(b) the person or body to whom the functions were delegated.

(6) The Minister must lay the report or cause it to be laid before both Houses of Parliament as soon as practicable after receiving the report.