123   Annual energy savings statements

(1)  A scheme participant must lodge with the Scheme Regulator a statement (an energy savings statement) on or before 1 March in each year or on or before any later day specified in respect of the scheme participant by the Scheme Regulator.

(2)  An energy savings statement is to contain the following:

(a)  an assessment of the scheme participant’s individual energy savings target for the previous year, including particulars of liable acquisitions made by the scheme participant during the previous year and of any deductions made in respect of fully exempt or partially exempt electricity load,

(b)  an assessment of the participant’s liability (if any) for an energy savings shortfall penalty for the previous year, including liability for an energy savings shortfall penalty in respect of a carried forward shortfall,

(c)  any other matters required by the Scheme Regulator.

(3)  If the scheme participant seeks to elect to surrender one or more energy savings certificates for the purposes of meeting its individual energy savings target for the year to which the energy savings statement relates, or to remedy a carried forward shortfall for the year, the election is to accompany the energy savings statement and is to contain details of the energy savings certificates proposed to be surrendered.

(4)  If a scheme participant seeks to elect to carry forward an energy savings shortfall for the year to which the statement relates, or any part of that shortfall, the election is to accompany the statement.

(5)  An energy savings statement, and any election that accompanies the statement, must be in a form approved by the Scheme Regulator.

(6)  A scheme participant that fails to lodge an energy savings statement in accordance with this section is guilty of an offence.

Maximum penalty:

(a)  in the case of a corporation—250 penalty units, or

(b)  in the case of an individual—100 penalty units.