|
|
50 |
|
|
|
|
|
|
|
Second
Session, 46th General Assembly 58
Elizabeth II, 2009 |
|
|
AN ACT TO AMEND THE
PETROLEUM PRODUCTS ACT |
|
|
Received and Read the First Time................................................................................................... |
|
|
Second |
|
|
Committee............................................................................................................................................ |
|
|
Third |
|
|
Royal Assent...................................................................................................................................... |
|
|
HONOURABLE
KEVIN O'BRIEN Minister
of Government Services |
|
|
Ordered
to be printed by the Honourable House of Assembly |
|
|
EXPLANATORY NOTES This Bill would amend the definitions of "heating fuel" and "motor fuel" in the Petroleum Products Act to include petroleum-based components and blends. The Bill would enable the Public Utilities Board to recover costs of an application made by a wholesaler or retailer who requests a change in the price of a petroleum product. It would further enable the board to
conduct a review of the price of a petroleum product. |
|
A BILL AN ACT TO AMEND THE PETROLEUM PRODUCTS ACT Analysis 1.
S.2 Amdt. 2.
S.4 Amdt. 3.
S.8 Amdt. 4.
S.8.1 Added 5.
S.23 Amdt. Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: SNL2001 cP-10.1 as amended 1. (1) Paragraph 2(1)(c) of the Petroleum Products Act is repealed and
the following substituted: (c) "heating fuel" means furnace oil, stove oil or propane of a type used primarily for generating heat and includes a liquid product distilled from petroleum used as a component of it; (2) Paragraph 2(1)(e) of the Act is repealed and the following substituted: (e) "motor fuel" means gasoline, diesel fuel or propane of a type used primarily in internal combustion engines and includes a liquid product distilled from petroleum used as a component of it; (3) Section 2 is amended by adding immediately after subsection (2) the following: (3) The following petroleum products are exempt from the provisions of this Act: (a) motor fuel used for aviation purposes; and (b) motor fuel used for marine purposes except where the motor fuel is purchased from a retailer who sells that type of motor fuel for other purposes. 2. Paragraph 4(1)(a) of the Act is repealed and the following substituted: (a) to set, and shall set the maximum wholesale and retail prices that a wholesaler and a retailer may charge for heating fuel and motor fuel including different grades, derivatives or components of them; and 3. Section 8 of the Act is amended by adding immediately after subsection (5) the following: (6) The board may order that an applicant pay the costs in relation to an application, and those costs shall be paid within 30 days of the order of the board. 4. The Act is amended by adding immediately after section 8 the following: Review by board 8.1 (1) The board may, on its own motion, conduct a review of the maximum mark up between the wholesale price to the retailer and the retail price to the consumer or allowed service costs to ensure they are justified, and may order adjustments to the mark up or the allowed service costs after the review is completed. (2) The board may, on the request of a wholesaler
or retailer or on its own motion, review the suitability of the pricing
mechanism for benchmark prices, and may provide the minister with its recommendation
on the matter. (3) The board shall, on the request of the minister, review the suitability of the pricing mechanism for benchmark prices and shall provide the minister with its recommendation on the matter. 5. Section 23 of the Act is amended by deleting the word "and" at the end of paragraph (f) and by adding immediately after that paragraph the following: (f.1) defining a word or expression used but not
defined in this Act; and ŠEarl G. Tucker, Queen's Printer |