Commonwealth Numbered Acts Commonwealth Numbered ActsJoint ventures in existence on 1 July 2012
(1) If:
(a) on 1 July 2012, a mandatory designated joint venture is in existence; and
(b) it may reasonably be expected that, if the joint venture had been constituted as a company instead of as a joint venture, the company would be a liable entity under Division 2 for the eligible financial year beginning on 1 July 2012 as the result of the emission of greenhouse gas from the operation of a facility of the joint venture;
the participants in the joint venture must:
(c) jointly notify the Regulator, in writing:
(i) that they are participants in the joint venture; and
(ii) of the facility; and
(d) do so before the end of 31 July 2012.
Joint ventures that come into existence after 1 July 2012
(2) If:
(a) at a particular time after 1 July 2012, a mandatory designated joint venture comes into existence; and
(b) it is reasonable to expect that, assuming that the joint venture had been constituted as a company instead of as a joint venture, the company would be a liable entity under Division 2 for:
(i) the eligible financial year in which that time occurred; or
(ii) the next eligible financial year;
because of the emission of greenhouse gas from the operation of a facility of the joint venture;
the participants in the joint venture must:
(c) jointly notify the Regulator, in writing:
(i) that they are participants in the joint venture; and
(ii) of the facility; and
(d) do so within 30 days after becoming such a participant.
Facilities that become facilities of a mandatory designated joint venture after 1 July 2012
(3) If:
(a) at a particular time on or after 1 July 2012, a facility becomes a facility of a mandatory designated joint venture; and
(b) it is reasonable to expect that, assuming that the joint venture had been constituted as a company instead of as a joint venture, the company would be a liable entity under Division 2 for:
(i) the eligible financial year in which that time occurred; or
(ii) the next eligible financial year;
because of the emission of greenhouse gas from the operation of the facility;
the participants in the joint venture must:
(c) jointly notify the Regulator, in writing:
(i) that they are participants in the joint venture; and
(ii) of the facility; and
(d) do so within 30 days after that time.
Mandatory designated joint ventures that cease to exist after 1 July 2012
(4) If:
(a) at a particular time after 1 July 2012, a joint venture ceases to be a mandatory designated joint venture; and
(b) it is reasonable to expect that, assuming that the joint venture had been constituted as a company instead of as a joint venture, the company would be a liable entity under Division 2 for the eligible financial year in which that time occurred because of the emission of greenhouse gas from the operation of a facility of the joint venture;
the participants in the joint venture must:
(c) jointly notify the Regulator, in writing, of the cessation; and
(d) do so within 30 days after the cessation.
Application for participating percentage determination
(5) A notification under subsection (1), (2) or (3) in relation to a facility must be accompanied by an application under section 74 for a participating percentage determination for the joint venture in relation to the facility.
(6) Subsections (1), (2), (3) and (4) are civil penalty provisions .
Note: Part 17 provides for pecuniary penalties for breaches of civil penalty provisions.