Section 74 - Protection of the Environment Operations (Hunter River Salinity Trading Scheme) Regulation 2002 - Calculation of contribution

74Calculation of contribution

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74 Calculation of contribution

The contribution payable by a person under this Part is calculated as follows:

Where:

C is the contribution payable by the person.

H is the contribution payable by the person on the person’s credit holdings (if any) at the start of the scheme year, calculated in accordance with this Part.

DL is the contribution payable by the person on the discharge licence (if any) held by the person at the start of the scheme year, calculated in accordance with this Part.

Note—

The calculation of the contribution payable by a participant in the scheme is based on their credit holdings at the start of the scheme year and their discharge licence. If the participant held a discharge licence but did not hold any credits at the start of the scheme year, the participant will only be liable for a contribution on the participant’s discharge licence (DL in the formula above). If the participant held credits but not a discharge licence, the participant will only be liable for a contribution on the participant’s credit holdings at the start of the scheme year (H in the formula above). If the participant held credits and a discharge licence, the participant will be liable for a contribution in respect of both.

cl 74: Am 2016 (775), Sch 1 [61].