On the 30th of March 2017, the Federal Minister for the Environment and Energy, the Hon. Josh Frydenberg MP, tabled the Petroleum and Other Fuels Reporting Bill 2017 in Parliament. This Bill and the Explanatory Memorandum are available on the Australian Parliament House website at: http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5845.

The Legislation establishes a legislative framework for the reporting of information in relation to petroleum and other fuels such as biofuel.

The Bill sets out the products that will be covered by mandatory reporting, as well as detailing the protections that will be incorporated to protect commercial sensitive information.

The legislation also sets out the potential financial penalties that will apply for non-reporting by affected businesses.

The specific reporting requirements will be set out in the supporting regulations that are being developed by the Department of the Environment and Energy.

It is understood that a draft of these new Rules will be circulated to stakeholders (including ACAPMA) to review and comment over coming months.

“This legislation will only impact the very large retailers but will likely introduce a new requirement for larger distributors to report”, said ACAPMA CEO Mark McKenzie.

“As further information comes to hand we will share it with our members”, said Mark.

“In the meantime, we encourage affected businesses to review the new legislation”, Mark continued.

Any queries about the legislation should be directed to the Federal Department of the Environment by sending an email to mrps@environment.gov.au.