Fuel Security Act 2021
37Determination of assumption or division of minimum stockholding obligation
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37 Determination of assumption or division of minimum stockholding obligation
(1) The Secretary may, in writing, make a determination that the Secretary is satisfied that an entity’s (the divesting entity’s) minimum stockholding obligation in relation to an MSO product is being assumed by, or divided with, another entity or entities (the receiving entity or receiving entities).
Note: A decision to make a determination is a reviewable decision and reasons and notice of review rights must be given (see sections 72 and 73).
(2) The Secretary may make the determination: (a) on application by a divesting entity or receiving entity; or (b) on the Secretary’s own initiative. (3) Before making a determination, the Secretary must invite submissions from the entities and take any such submissions into account. (4) The Secretary must give the determination to the entities. (5) The determination must specify the effect the determination is to have on any notices in force under section 10, 15 or 18.
Note: A decision about the effect of the determination on the notices is a reviewable decision and reasons and notice of review rights must be given (see sections 72 and 73).
(6) If the Secretary decides to refuse an entity’s application to make a determination under this section, the Secretary must give the entity written notice of the decision.
Note: A decision to refuse an application is a reviewable decision and reasons and notice of review rights must be given (see sections 72 and 73).
(7) A determination under this section, including the effect specified for the purposes of subsection (5), must be in accordance with any rules made for the purposes of this subsection. (8) Without limiting what may be prescribed by rules made for the purposes of subsection (7), the rules may make provision for a determination to specify as an effect: (a) that a notice is taken to have been given to more than one entity, or to a different entity; or (b) that a notice is taken to specify a different quantity.