Wednesday, 26 May 2021
Fuel Security (Consequential and Transitional Provisions) Bill 2021; Second Reading
That this bill be now read a second time.
I'm pleased to introduce the Fuel Security (Consequential and Transitional Provisions) Bill 2021. The primary purpose of this bill is to make necessary amendments to existing legislation to support the implementation of the main bill. The bill amends four existing acts to reduce the regulatory burden on entities covered by the scheme in the main bill, and ensure the integrity and the efficient implementation of the proposed measures. The bill also includes transitional provisions to support the main bill. It ensures that applications for the fuel security services payment cannot be made until the minister has made the rules required to assess the applications. It also ensures that the minimum stock-holding obligation does not commence until 1 July 2022, to ensure regulated entities have sufficient time to prepare. I commend the bill to the House.