Excise Tariff Amendment (Condensate) Act 2008 (109 of 2008)
Schedule 1 Amendments
Part 1 Amendments
Excise Tariff Act 1921
4 Subsection 3(1)
Insert:
exempt offshore oil and condensate means the first 4767.3 megalitres of:
(a) if a particular exempt offshore field produces stabilised crude petroleum oil and condensate - the stabilised crude petroleum oil and condensate that is produced from the field; or
(b) if a particular exempt offshore field produces either stabilised crude petroleum oil or condensate (but not both) - the stabilised crude petroleum oil or condensate (as the case requires) that is produced from the field;
being a field from which neither petroleum oil nor condensate was produced before 1 July 1987.