67Making of multi‑year period declaration

67 Making of multi‑year period declaration

Scope (1) This section applies if an application under section 65 has been made for a multi‑year period declaration for a facility. Making of multi‑year period declaration (2) If the Regulator is satisfied the facility’s covered emissions (in t CO2‑e) for the proposed first financial year of the declared multi‑year period are greater than the baseline emissions number with respect to that facility, it may make a multi‑year period declaration for the facility having regard to: (a) whether the responsible emitter has previously breached section 22XF of the Act; and (b) whether the Regulator considers that there is a significant risk the responsible emitter will breach section 22XF of the Act after the end of the declared multi‑year period; and (c) whether the Regulator considers that the responsible emitter is likely to experience financial stress in, or immediately after, the declared multi‑year period; and (ca) whether the Regulator considers that the plan mentioned in paragraph 65(3)(e) is likely to reduce the facility’s covered emissions below the facility’s baseline emissions number for the declared multi‑year period; and (d) such other matters (if any) as the Regulator considers relevant. (3) If the Regulator decides to make a multi‑year period declaration, it must specify a declared multi‑year period for the facility that is: (a) 2 financial years; or (b) 3 financial years; or (c) 4 financial years; or (d) 5 financial years. (3A) The Regulator must not make a multi‑year period declaration with an end date later than 30 June 2030. Timing (4) The Regulator must take all reasonable steps to ensure that a decision is made on the application by the later of: (a) 31 January after the end of the proposed first financial year of the declared multi‑year period; and (b) if the Regulator requires the applicant to give further information under subsection 66(1) in relation to the application—60 days after the applicant gives the Regulator the information. Notification (5) As soon as practicable after making a multi‑year period declaration, the Regulator must: (a) provide written notice of the declaration to each responsible emitter for the facility in the period covered by the declaration; and (b) publish the details of the declaration on its website. Refusal (6) If the Regulator decides not to make a multi‑year period declaration, the Regulator must give written notice of the decision to the applicant.