52Amounts payable on termination or expiration

#### 52 Amounts payable on termination or expiration 52 Amounts payable on termination or expiration > > (1) A licence holder who is party to a load reduction agreement that expires or is terminated— > > > > > (a) is not liable to pay an amount on expiry or termination in relation to an assessable pollutant if the reported load for the immediately preceding licence fee period was not more than the agreed load for the pollutant under the agreement, or > > > > > (b) must pay to the EPA the amounts calculated in accordance with this section if the reported load for the immediately preceding licence fee period was more than the agreed load for the pollutant under the agreement. > > > (2) The amounts payable on termination or expiration are as follows— > > > > > (a) for a licence fee period during the agreement in which the reported load was more than the agreed load, the difference between— > > > > > > > (i) the fee that would have been payable for the period if the reported load had been equal to the agreed load under the agreement, and > > > > > > > (ii) the fee that would have been payable for the period but for the agreement, > > > > > (b) for a licence fee period during the agreement in which the reported load for the pollutant was not more than the agreed load—no amount is payable, > > > > > (c) the amount of simple interest on an amount payable under this subsection calculated at the rate of 20% per annum from the date that is 60 days after the end of each licence fee period. > > > (3) Subsection (1) does not apply in relation to a load reduction agreement entered into before 30 June 2009.