Bill
Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Amendment Bill 2019
passed, as at 2019-10-28. Industry, Innovation and Science portfolio.
- Sponsor
- Not recorded
- Portfolio
- Industry, Innovation and Science
Recorded stages
- introduced — 2019-07-25
- second reading — 2019-07-25
- second reading — 2019-09-11
- second reading — 2019-09-11
- third reading — 2019-09-11
- introduced — 2019-09-11
- second reading — 2019-09-11
- second reading — 2019-10-15
- second reading — 2019-10-15
- committee — 2019-10-16
- third reading — 2019-10-16
- passed — 2019-10-16
- royal assent — 2019-10-28
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2019-07-25.
This bill updates the levy law for offshore petroleum and greenhouse gas activities to match recent regulatory changes.
It adds new charges on greenhouse gas wells, adjusts existing charges following rule changes, removes outdated clauses, and makes references to regulations more flexible.
The bill also clarifies when investigation-related levies apply, and lets future regulation titles be set by regulation rather than fixed in the Act.
- Imposes levies on greenhouse gas wells, which currently only face petroleum well charges.
- Adds a charge for five-yearly revisions of well operations management plans and drops the charge for starting well activities.
- Extends investigation levies to cover probes under a newer regulatory powers law.
- Repeals transitional provisions that have served their purpose.
- Allows references to specific regulation titles to be prescribed by regulation instead of written into the Act.
Companies and regulators involved in offshore petroleum and greenhouse gas storage operations, particularly those dealing with well investigations and management plans.
Sources
em
billhome
frl act