Division 6 Assessment of compliance of scheme participants

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.

124   Restrictions on surrender of energy savings certificates

(1)  An energy savings certificate cannot be surrendered by a scheme participant for the purposes of meeting its individual energy savings target or remedying a carried forward shortfall unless:

(a)  the certificate is registered in the register of energy savings certificates kept under this Part and the registration is in force, and

(b)  the participant is recorded in the register of energy savings certificates as the owner of the certificate, and

(c)  the certificate was created in relation to energy savings that occurred before the end of the year to which the energy savings statement relates.

(2)  The Scheme Regulator may, by notice in writing to a scheme participant, refuse to accept an election to surrender an energy savings certificate:

(a)  if, in the opinion of the Scheme Regulator, the certificate cannot be surrendered under this section, or

(b)  if, in the opinion of the Scheme Regulator, the certificate is surplus to the number required to be surrendered for the purpose of meeting the participant’s individual energy savings target or to remedy a carried forward shortfall.

(3)  If the Scheme Regulator accepts the surrender of an energy savings certificate, and the Scheme Regulator is not the Scheme Administrator, the Scheme Regulator must give the Scheme Administrator notice in writing of the decision, including details of the certificates surrendered.

125   Regulations relating to assessments

Regulations may be made for or with respect to the following matters:

(a)  the assessment of the liability of a scheme participant for an energy savings shortfall penalty, including self-assessment or assessment by the Scheme Regulator,

(b)  the date on which an assessment is taken to have been made and the date on which an assessment takes effect,

(c)  default assessments where an energy savings statement is not lodged by a scheme participant,

(d)  amendment of assessments, at the request of a scheme participant or on the Scheme Regulator’s own motion,

(e)  revocation of the cancellation of energy savings certificates in connection with amended assessments and the revival of the certificates,

(f)  payments resulting from amended assessments,

(g)  notice of assessments.

126   Validity of assessment

The validity of an assessment of a liability to pay an energy savings shortfall penalty is not affected by any failure to comply with a provision of this Act, the regulations or the scheme rules.