88Forfeiture of credits

88 Forfeiture of credits

88 Forfeiture of credits

(1) The EPA may, by order in writing served on a person, require the forfeiture of any credits held by the person to the EPA.

(2) Such an order (a forfeiture order) may be made only if the EPA is satisfied that the person:

(a) has contravened a provision of this Regulation, or

(b) has contravened a condition of the person’s discharge licence, being a condition that relates to the scheme, or

(c) has failed to pay a contribution required under this Regulation by the due date for its payment.

(3) The order is to specify the number of credits forfeited.

(4) In the case of a forfeiture order made because of a contravention of this Regulation, the EPA may, in determining how many credits are to be forfeited, take into account:

(a) any pecuniary benefit that has been obtained by the person, or any cost that has been avoided by the person, because of the contravention, and

(b) any other relevant matters.

(5) In the case of a forfeiture order made because of a failure to pay a contribution by the due date for its payment, the EPA may order the forfeiture of the number of credits that, in the opinion of the EPA, would, if sold by auction or public tender, raise an amount sufficient to meet the following:

(a) the contribution that is payable by the person, together with any interest payable on the contribution, and

(b) the costs that are likely to be incurred by the EPA in connection with the sale of the credits.

(6) A forfeiture order takes effect on the date notice of the order is served on the person against whom it is made, or on a later date specified in the order.

(7) On the date that a forfeiture order takes effect, the credit or credits specified in the order are forfeited to the EPA.

(8) This clause does not prevent any proceedings being taken:

(a) for an offence against the Act or this Regulation, or

(b) for the recovery of a contribution as a debt payable to the EPA, as provided for by section 295H (3) of the Act.