38AHNo energy acquisition statement lodged for previous year: default rule

#### 38AH No energy acquisition statement lodged for previous year: default rule (1) This section applies, in relation to the first, second or third quarter (the relevant quarter) of the assessment year, if: (a) for any reason, the liable entity did not lodge an energy acquisition statement for the previous year before 1 April in the assessment year; and (b) either: (i) the liable entity did not make an application under section 38AG before the end of the assessment year in relation to the relevant quarter; or (ii) the liable entity made such an application in relation to the relevant quarter, but the Regulator refused to make a determination under paragraph 38AG(3)(a) in relation to that quarter. (2) If this section applies, then subsection 38AE(1), (2) or (3) (as the case requires) applies to the relevant quarter as if the amount specified in whichever of the following paragraphs applies were the previous year’s reduced acquisitions: (a) if the liable entity made relevant acquisitions of electricity in the relevant quarter—the amount of the assessment year’s reduced acquisitions; (b) if the liable entity did not make any relevant acquisitions of electricity in the relevant quarter—zero.