FUEL SUPPLIERS LICENSING REGULATIONS 1998 - REG 4A

This legislation has been repealed.

FUEL SUPPLIERS LICENSING REGULATIONS 1998 - REG 4A

4A .         General diesel and ORD subsidy rates (s. 3)

        (1)         In this regulation —

        "ETR" means the rate of duty (in dollars per litre) imposed by item 11(C)(2)(a) of the Schedule to the Excise Tariff Act 1921 of the Commonwealth.

        (2)         For the purpose of the definition of “general diesel subsidy rate” in section 3 of the Act the general diesel subsidy rate (GDSR) prescribed is that calculated in accordance with this formula and subregulation (4):

                GDSR = (ETR × 1.51879) cents per litre.

        (3)         For the purpose of the definition of “ORD subsidy rate” in section 3 of the Act the ORD subsidy rate (ORDSR) prescribed is that calculated in accordance with this formula and subregulation (4):

                ORDSR = (ETR × 17.40776) cents per litre.

        (4)         The result obtained from a calculation made using the formula in subregulation (2) or (3) is to be expressed to 3 decimal places and the number in the third decimal place is to be rounded up to the next number if the number in the fourth decimal place is 5 or more.

        [Regulation 4A inserted in Gazette 13 Aug 1999 p. 3830.]