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Petroleum Excise (Prices) Act 1987
5Purpose of Part
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5 Purpose of Part
(1) The purpose of this Part is to allow the Minister to establish prices of condensate which are used in imposing duties of excise on condensate. (2) It does so by providing that the Act, in addition to its general operation, operates as if: (a) references to excisable crude petroleum oil were references to excisable condensate; and (b) references to stabilised crude petroleum oil, crude petroleum oil and oil were references to condensate.