62Review of cost‑recovery arrangements—financial report

62 Review of cost‑recovery arrangements—financial report

(1) The CEO must prepare a financial report in respect of each financial year that assesses the cost‑effectiveness of the operations of NOPSEMA in that financial year. (2) The report must be audited by an independent auditor. (3) The CEO must give a copy of the report, and the auditor’s certification, to each of the following persons at least 1 month before the meeting required under section 63: (a) the Australian Petroleum Production & Exploration Association Limited; (b) each operator of a facility, and each licensee of a pipeline licence, in relation to which levy has been due and payable in accordance with this instrument during the financial year; (c) each of the following who are liable to pay levy in accordance with this instrument during the financial year: (i) a registered holder of a title; (ii) a holder of a State/Territory title; (iii) a person subject to a remedial direction; (iv) a person subject to a State/Territory remedial direction; (d) any other person to whom the CEO believes it would be appropriate to give the report.

Note: The requirements of this section are in addition to the requirements of Division 4 of Part 2‑3 of the Public Governance, Performance and Accountability Act 2013.