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Scheme compliance

17 July 2018
RET

By 14 February each year, liable entities are required to lodge an energy acquisition statement, surrender renewable energy certificates and pay any applicable shortfall charges. There are other key dates related to liable entities reporting and surrender.

The Clean Energy Regulator validates all energy acquisition statements and conducts audits. Investigations may be undertaken in certain circumstances.

Non-compliance

There are serious consequences for entities that do not meet their obligations, including significant additional financial penalty charges and interest charges. Failure to lodge statements on time is also a criminal offence that may attract criminal penalties.

All shortfall charges must be paid on time, any unpaid shortfall charge will attract interest charges. Where a debt is incurred, we will pursue that debt in accordance with the law, up to and including applications to wind up companies in appropriate cases.

We strongly recommend liable entities seek professional, independent advice on their specific circumstances if they do not understand the requirements or believe that they may have difficulty fulfilling their obligations.

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