Petroleum Products (Terminal Gate Pricing) (Amendment) Act 2004

Victorian Legislation and Parliamentary Documents i Petroleum Products (Terminal Gate Pricing) (Amendment) Act 2004 Act No. 88/2004 TABLE OF PROVISIONS Section Page 1. Purpose 1 2. Commencement 2 3. Principal Act 2 4. Definitions 2 5. Determination of terminal gate price 4 6. Price of sale or supply 5 7. Availability of price information 5 8. Requirement to supply 5 9. Declared suppliers to produce documents and answer questions 6 10. Application of Fair Trading Act 1999 6 11. Regulations 6 ═══════════════ ENDNOTES 7 -- 1 of 8 -- Victorian Legislation and Parliamentary Documents 1 Petroleum Products (Terminal Gate Pricing) (Amendment) Act 2004† [Assented to 23 November 2004] The Parliament of Victoria enacts as follows: 1. Purpose The purpose of this Act is to amend the Petroleum Products (Terminal Gate Pricing) Act 2000— (a) to provide for terminal gate prices to be temperature corrected; and (b) to allow the regulations to exempt a supplier from the requirement to supply petroleum products in the event of a shortfall; and Victoria No. 88 of 2004 -- 2 of 8 -- Victorian Legislation and Parliamentary Documents Act No. 88/2004 Petroleum Products (Terminal Gate Pricing) (Amendment) Act 2004 2 (c) to improve generally the administration and operation of that Act. 2. Commencement (1) This Act comes into operation on a day to be proclaimed. (2) If this Act does not come into operation before 1 August 2005, it comes into operation on that day. 3. Principal Act In this Act the Petroleum Products (Terminal Gate Pricing) Act 2000 is called the Principal Act. 4. Definitions In section 3 of the Principal Act— (a) for the definition of "distributor" substitute— ' "distributor" means a person who carries on a business of purchasing petroleum products for resale or re-supply;'; (b) insert the following definitions— ' "business entity" means a person or body that carries on a business other than a petroleum products business; "officer"— (a) in relation to a body corporate which is a corporation within the meaning of the Corporations Act, has the same meaning as in section 82A of that Act; and s. 2 See: Act No. 71/2000. LawToday: www.dms. dpc.vic. gov.au -- 3 of 8 -- Victorian Legislation and Parliamentary Documents Act No. 88/2004 Petroleum Products (Terminal Gate Pricing) (Amendment) Act 2004 3 (b) in relation to a body corporate which is not a corporation within the meaning of that Act, means any person (by whatever name called) who is concerned in or takes part in the management of the body corporate or an employee of the body corporate;'; (c) for the definition of "retailer" substitute— ' "retailer" means a person who carries on a business of selling or supplying petroleum products to any of the following— (a) a person other than a business entity ("the purchaser") who purchases the petroleum products only for— (i) the purchaser's own consumption; or (ii) consumption by another person, provided there has been no resale by the purchaser and the re-supply by the purchaser does not involve an exchange of goods or services; (b) a business entity that purchases the petroleum products only for— (i) consumption by the business; or (ii) resale to its staff or contractors for consumption by the purchasing staff or contractors; s. 4 -- 4 of 8 -- Victorian Legislation and Parliamentary Documents Act No. 88/2004 Petroleum Products (Terminal Gate Pricing) (Amendment) Act 2004 4 (c) a co-operative (including a co-operative that is a buying group for its members) that purchases the petroleum products only for resale to its members for consumption by the purchasing members;'. 5. Determination of terminal gate price (1) For section 5(1) of the Principal Act substitute— '(1) A declared supplier must, within 14 days after being declared under section 4(a), determine a price ("the terminal gate price") per litre for the sale or supply of each declared class of petroleum products sold or supplied by the declared supplier to a distributor or retailer. Penalty: 10 000 penalty units.'. (2) In section 5(4) of the Principal Act, for "A terminal gate price" substitute "Subject to sub-section (4A), a terminal gate price". (3) After section 5(4) of the Principal Act insert— "(4A) A terminal gate price must be determined by reference to the volume of the petroleum product as measured by the litres the petroleum product occupies, or would occupy, at a temperature of 15°C.". (4) In section 5(8)(h) of the Principal Act, after "assets owned" insert "or leased". s. 5 -- 5 of 8 -- Victorian Legislation and Parliamentary Documents Act No. 88/2004 Petroleum Products (Terminal Gate Pricing) (Amendment) Act 2004 5 6. Price of sale or supply In section 6 of the Principal Act, after "declared class" insert "to a distributor or retailer". 7. Availability of price information (1) In section 7(2) of the Principal Act, for "provided by the declared supplier" substitute "provided or to be provided by the declared supplier to the distributor or retailer who made the request". (2) In section 7(5) of the Principal Act, after "declared class" insert "to a distributor or retailer". (3) After section 7(5) of the Principal Act insert— "(6) Sub-section (5) does not apply to a sale or supply under a contract entered into before 1 November 2000.". 8. Requirement to supply In section 9(2) of the Principal Act— (a) for paragraph (a) substitute— "(a) the regulations exempt the supplier from compliance with sub-section (1) in the case of a shortfall in the availability of the petroleum products; or"; (b) in paragraph (d), for "requested." substitute "requested; or"; (c) after paragraph (d) insert— "(e) the distributor or retailer is unable to pay for the petroleum products.". s. 6 -- 6 of 8 -- Victorian Legislation and Parliamentary Documents Act No. 88/2004 Petroleum Products (Terminal Gate Pricing) (Amendment) Act 2004 6 9. Declared suppliers to produce documents and answer questions At the end of section 10 of the Principal Act insert— "(2) A person must not, without reasonable excuse, refuse or fail to comply with a requirement of the Director under this section. Penalty: 60 penalty units.". 10. Application of Fair Trading Act 1999 In section 11 of the Principal Act, for "were as reference to this Act and as if section 10 of this Act were included in that Part" substitute "were a reference to this Act". 11. Regulations For section 13(a) of the Principal Act substitute— "(a) notification requirements for declared suppliers in the case of a shortfall in the availability of petroleum products; and (ab) the keeping of records for the purposes of this Act or the regulations; and (ac) prescribing a penalty, not exceeding 20 penalty units, for a contravention of the regulations; and". ═══════════════ s. 9 -- 7 of 8 -- Victorian Legislation and Parliamentary Documents Act No. 88/2004 Petroleum Products (Terminal Gate Pricing) (Amendment) Act 2004 7 ENDNOTES † Minister's second reading speech— Legislative Assembly: 14 October 2004 Legislative Council: 11 November 2004 The long title for the Bill for this Act was "to amend the Petroleum Products (Terminal Gate Pricing) Act 2000 and for other purposes." Endnotes -- 8 of 8 --