51Termination

51 Termination

51 Termination

(1) The licence holder may terminate a load reduction agreement before the end of the term of the agreement in accordance with the agreement.

(2) The licence holder is taken to have terminated a load reduction agreement if—

(a) the licence holder surrenders the licence, or

(b) the licence is suspended or revoked, or

(c) the licence holder closes its operations or otherwise ceases to operate before the agreement expires.

(3) The EPA may terminate a load reduction agreement if—

(a) the EPA is of the opinion the licence holder is unlikely to—

(i) attain the agreed load before the end of the agreement, or

(ii) meet the costs of repayment on termination or expiration of the agreement, or both, or

(b) the licence holder fails to comply with a condition of the agreement.