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Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019

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2019

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019

 

 

(1)     Schedule 1, heading, page 3 (line 2), at the end of the heading, add “ and prohibition on Commonwealth support for coal-fired electricity generators ”.

[prohibition on Commonwealth support for coal-fired generators]

(2)     Schedule 1, item 1, page 4 (after line 2), at the end of section 153A, add:

This Part also prohibits certain Commonwealth support for coal-fired electricity generators.

[prohibition on Commonwealth support for coal-fired generators]

(3)     Schedule 1, item 1, page 21 (after line 3), at the end of subsection 153X(1), add:

Note:          An order cannot be made under this section if it would have the effect of inhibiting, delaying or stopping a planned closure of a coal-fired generator: see section 153ZE.

[restrictions on orders]

(4)     Schedule 1, item 1, page 25 (after line26), at the end of subsection 153ZB(1), add:

Note:          An order cannot be made under this section if it would have the effect of inhibiting, delaying or stopping a planned closure of a coal-fired generator: see section 153ZE.

[restrictions on orders]

(5)     Schedule 1 , item 1 , page 27 (after line 6) , after Division 6 , insert:

Division 6A—Prohibition on Commonwealth support for coal-fired generators

153ZBA  This Division binds the Crown

                   This Division binds the Crown in right of the Commonwealth. However, it does not bind the Crown in right of a State, of the Australian Capital Territory or of the Northern Territory.

153ZBB  Prohibition on Commonwealth support for coal-fired generators

             (1)  The Commonwealth or an authority of the Commonwealth must not, on or after the commencement of this Division:

                     (a)  provide financial support or other support for the purpose (or for purposes that include the purpose) of the refurbishment or building of a coal-fired generator; or

                     (b)  purchase, or assist the purchase or transfer of ownership of, a coal-fired generator; or

                     (c)  provide financial support to an owner or operator of a coal-fired generator to use, fund, extend the life of or operate the generator.

             (2)  For the purposes of this section, financial support includes any support that involves a current or potential future financial exposure to the Commonwealth, including the Commonwealth underwriting investments or entering into other financial arrangements.

Exception—regulatory processes

             (3)  Subsection (1) does not apply to support or assistance provided solely for purposes connected with the Commonwealth or authority:

                     (a)  processing an application for an approval, licence or permit (however described) that is required under a law of the Commonwealth; or

                     (b)  undertaking any other regulatory process under or in accordance with a law of the Commonwealth.

Exception—transition assistance or research

             (4)  Paragraph (1)(a) does not apply to:

                     (a)  financial or other support provided in connection with a program that provides transition assistance to workers affected, or who may be affected, by the retirement of a coal-fired generator; or

                     (b)  funding research by an approved research institute (within the meaning of section 73A of the Income Tax Assessment Act 1936 ), so far as the research relates to coal-fired generators generally and does not relate only to a particular coal-fired generator or particular coal-fired generators.

Exception—managed closures

             (5)  Subsection (1) does not apply to:

                     (a)  the provision of support in relation to a coal-fired generator; or

                     (b)  the purchase, or the assisting of the purchase or transfer of ownership, of a coal-fired generator;

if the purpose, or one of the purposes, of the support, purchase or assistance is the managed closure of the coal-fired generator.

Subsection (1) has effect despite other laws

             (6)  Subsection (1) has effect despite anything in this Act or any other law of the Commonwealth (whether passed or made before or after the commencement of this section) unless the law expressly provides otherwise.

             (7)  Subsection (6) does not affect the operation of section 153ZC.

Executive power of the Commonwealth not otherwise limited

             (8)  This section only limits the executive power of the Commonwealth to the extent set out in this section and does not, by implication, limit that power to any other extent.

[prohibition on Commonwealth support for coal-fired generators]

(6)     Schedule 1, item 1, page 27 (line 11), omit “5 and 6”, substitute “5, 6 and 6A”.

[prohibition on Commonwealth support for coal-fired generators]

(7)     Schedule 1, item 1, page 27 (line 13), omit “5 or 6”, substitute “5, 6 or 6A”.

[prohibition on Commonwealth support for coal-fired generators]

(8)     Schedule 1, item 1, page 27 (after line 3), at the end of Division 7, add:

153ZE  No orders under this Part that would affect planned closure of coal-fired generator etc.

                   Despite Divisions 5 and 6, an order must not be made in relation to a body corporate under either of those Divisions if the order would have the effect of inhibiting, delaying or stopping a planned closure of a coal-fired generator.

[restrictions on orders]

(9)     Schedule 1, page 29 (after line 5), after item 2, insert:

2A  Subsection 2A(1)

Omit “44E and 95D”, substitute “44E, 95D and 153ZBA”.

[prohibition on Commonwealth support for coal-fired generators]

(10)   Schedule 1, item 3, page 29 (line 8), after “XICA”, insert “(other than Division 6A)”.

[prohibition on Commonwealth support for coal-fired generators]

(11)   Schedule 1, item 14, page 31 (after line 11), at the end of the item, add:

(3)       Subitem (1) does not apply to Division 6A of Part XICA of the Competition and Consumer Act 2010 , as inserted by this Schedule.

[prohibition on Commonwealth support for coal-fired generators]