CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 78 Criteria for making participating percentage determination

CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 78

Scope

             (1)  This section applies to the making of a participating percentage determination for a joint venture in relation to a facility.

Criteria--share of goods

             (2)  If the joint venture operates on the basis that each participant has a share of the goods extracted, produced or manufactured in connection with the operation of the facility, the Regulator must ensure that the participating percentages of the participants in relation to the facility represent each participant's share in those goods.

             (3)  However, subsection (2) does not apply if the Regulator is satisfied that another percentage would equally well, or better, represent the way in which the economic benefits from the facility are shared among the participants.

Criteria--share of access to services

             (4)  If:

                     (a)  a joint venture is not operated on the basis that each participant has a share of the goods extracted, produced or manufactured in connection with the operation of the facility; and

                     (b)  the joint venture is operated on the basis that each participant has a share of access to services in connection with the operation of the facility;

the Regulator must ensure that the participating percentages represent each participant's share of such access.

             (5)  However, subsection (4) does not apply if the Regulator is satisfied that another percentage would equally well, or better, represent the way in which the economic benefits from the facility are shared among the participants.

Criteria--regulations

             (6)  If:

                     (a)  a joint venture is not operated on the basis that each participant has a share of the goods extracted, produced or manufactured in connection with the operation of the facility; and

                     (b)  the joint venture is not operated on the basis that each participant has a share of access to services in connection with the operation of the facility; and

                     (c)  the regulations set out rules for the purposes of this subsection;

the Regulator must comply with those rules.

             (7)  However, subsection (6) does not apply if the Regulator is satisfied that another percentage would equally well, or better, represent the way in which the economic benefits from the facility are shared among the participants.