CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 132 Refund--surplus surrender

CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 132

Scope

             (1)  This section applies if:

                     (a)  a person is a liable entity for an eligible financial year; and

                     (b)  the eligible financial year is a fixed charge year.

Refund

             (2)  If the person has a final surplus surrender number for that fixed charge year worked out under section 128, there is payable by the Commonwealth to the person the amount worked out using the following formula:

where:

"fixed charge amount" means the per unit charge applicable under subsection 100(1) for the issue of a carbon unit with a vintage year of that fixed charge year.

             (3)  The Consolidated Revenue Fund is appropriated for the purposes of making payments under subsection (2).