is a fuel importer of a type of obligation fuel; and

owns or operates a bulk storage facility for that type of obligation fuel or has the right to draw that type of obligation fuel at a bulk storage facility.

diesel (within the meaning of regulation 5(1) of the Engine Fuel Specifications Regulations 2011) but only if it has properties that conform to the limits specified in Schedule 2 of those regulations when tested by the methods specified in that schedule:

petrol (within the meaning of regulation 5(1) of the Engine Fuel Specifications Regulations 2011):

aviation turbine fuel (being fuel that meets ASTM D1655 (Standard specification for aviation turbine fuels) or ASTM D7566 (Standard specification for aviation turbine fuel containing synthesized hydrocarbons).

fuel held under an agreement with the Crown for the purpose of compliance by the Crown with New Zealand’s obligation, under Article 2 of the International Energy Agreement (within the meaning given in section 2 of the International Energy Agreement Act 1976), to maintain the emergency reserve commitment set out in that Article:

fuel imported for consumption by the Crown (for example, by the New Zealand Defence Force).

21 for diesel:

28 for petrol:

24 for aviation turbine fuel.

in an MSO storage facility; or

fuel cargo in a vessel within New Zealand’s exclusive economic zone that is scheduled for delivery to a New Zealand port.

that they hold for the purpose of blending with that type of fuel during the month; and

that is commensurate with the maximum percentage by volume requirement for that type of fuel in those regulations.

must be in writing and be legally enforceable; and

must include the information specified in subclause (3).

the type and volume of each obligation fuel or blendstock to which the agreement applies (the transferred fuel); and

the period for which the transfer of the transferred fuel applies (the transfer period); and

the name and contact details of the transferor and the transferee; and

that the transferee is treated as the person that has the right to count the transferred fuel for the purpose of the stockholding obligation during the transfer period; and

the physical address of each MSO storage facility in which the transferred fuel is or may be stored; and

in the case of transferred fuel that is stored in a shared MSO storage facility,—

obligation fuel in respect of which the obliged person has a minimum stockholding obligation:

blendstock of a type that the obliged person counts as minimum stock (see regulation 37).

in respect of each MSO storage facility at which the obliged person has the right to draw disclosure fuel,—

in respect of all MSO storage facilities at which the obliged person has the right to draw disclosure fuel,—

in respect of all vessels in which the obliged person holds fuel cargo within New Zealand’s exclusive economic zone that is scheduled for delivery to a New Zealand port,—

in respect of each source of imports, the volume of each type of fuel and its port of loading.

calculate their daily stock of each type of fuel, by recording or making a reasonable estimate, at the same time every day in each month; and

record and retain a description of each method used for each calculation under this regulation.

all information recorded and retained under regulation 41, except the information referred to in regulation 41(1)(a)(ii), (b)(i), and (c)(ii) (which relates to the daily stock held by the obliged person):

the obliged person’s average daily demand or consumption of the fuel type (measured in thousands of litres per day) (that is, the obliged person’s average daily drawings from MSO storage facilities at which the obliged person has the right to draw fuel, during the 12-month period that ends 4 months before the month begins):

the average number of days of cover during the month that is provided by the daily stock of the fuel type held by the obliged person, calculated in accordance with the following formula:

whether the obliged person has complied with their stockholding obligation for the month; and

if not, the reasons for the non-compliance and an explanation of actions taken or planned to be taken to ensure future compliance.

the statement; and

evidence of how the information was gathered and calculated (that is, the working documents that resulted in the information disclosed).

a list of all MSO storage facilities used by the obliged person to hold disclosure fuel, including the physical address and the owner of each facility:

a description of each of those MSO storage facilities, including—

the average proportion of the storage capacity that is filled with fuel stocks at each MSO storage facility at which the obliged person has a right to draw fuel (that is, how full the storage tanks at each MSO storage facility are on average during the month), calculated in accordance with the following formula:

has been reviewed by the board of directors; and

is, to the best of their knowledge, correct.

procure an audit report, prepared by that auditor, in respect of each of their monthly disclosures that were made under this subpart in respect of the previous financial year; and

disclose that audit report, signed by that auditor (either in their own name or that of their firm), to the chief executive no later than 1 September in each year in respect of the previous financial year.

be addressed to the directors of the obliged person, as the intended users of the audit report; and

state that it has been prepared in accordance with the International Standard on Assurance Engagements (New Zealand) 3000 (ISAE (NZ) 3000); and

state the work done by the independent auditor (including, where relevant, a statement of assurance about the estimation method used for determining the daily stock); and

state the scope and any limitations of the audit report; and

state the existence of any relationship (other than that of auditor) that the independent auditor has with, or any interests that the independent auditor has in, the obliged person or any of its subsidiaries; and

state whether the independent auditor has obtained the sufficient recorded evidence and the explanations that they required to complete the report and, if not, state the information and explanations not obtained; and

state whether (and if not, the respects in which not), in the independent auditor’s opinion, as far as appears from their examination,—

is qualified for appointment as an auditor under the Companies Act 1993; and

has no relationship with, or interest in, the obliged person being audited that is likely to involve the independent auditor in a conflict of interest (actual or perceived); and

has not assisted with the preparation of monthly disclosures relating to disclosure fuel under this subpart or provided advice or opinions (other than in relation to audit reports) on the methodologies or processes used in preparing those monthly disclosures; and

is not associated with, nor directed by, any person who has provided any such assistance, advice, or opinion in relation to the preparation of those monthly disclosures; and

has the necessary expertise to properly prepare an audit report required by this regulation.

keep records of every entitlement agreement to which they are a party and of any material change to the provisions of any such agreement; and

disclose to the chief executive a copy of the entitlement agreement, and of any such material change, when requested by the chief executive; and

retain a copy of the entitlement agreement and material changes for a period of 7 years after the agreement has expired or has been terminated.

specify the relevant type of obligation fuel; and

confirm whether the obliged person will also cease—

explain the person’s reasons for ceasing to be an importer of that type of fuel, to the extent that the reasons are necessary for monitoring fuel resilience or for planning and implementing the stockholding obligation; and

provide the time frame in which the person will cease to be an importer of that type of fuel; and

provide the details of any entity that is likely to become a fuel importer, or to take over the importation in place of the person, of the relevant type of obligation fuel.

to the bulk storage facility at Fraser Street, PrimePort, Timaru that, as at the commencement of these regulations, holds fuel for Timaru Oil Services Limited (the Timaru facility); and

to Timaru Oil Services Limited (or to any other fuel industry participant that becomes the owner or operator of the Timaru facility as a successor to, or a member of the same group of companies as, Timaru Oil Services Limited) (TOSL).

regardless of whether TOSL is the obliged person in respect of all of that fuel; and

as if all of the fuel in the Timaru facility were TOSL’s obligation fuel and TOSL’s disclosure fuel.

regulation 41(1)(a), (2), and (3) (monthly records of fuel stocks for purpose of stockholding obligation):

regulation 42(a) (monthly disclosure of fuel stocks for purpose of stockholding obligation), but only in relation to information recorded and retained under regulation 41(1)(a)(i), (1)(a)(iii) to (vi), and (2):

regulation 42(b), but only in relation to drawings from the Timaru facility:

regulation 44 (annual disclosure of storage capacity):

regulation 45 (annual disclosure about assurance from board of directors):

regulation 46 (audits), but not regulation 46(3)(g)(i).

TOSL must comply with this subpart to the extent that it is an obliged person; or

any other person must comply with this subpart to the extent that they are an obliged person in respect of fuel held in the Timaru facility; or

TOSL or any other person must comply with this subpart in respect of other fuel or facilities.

the steps and strategies the obliged person will take to achieve compliance with the stockholding obligation by the end of the period to which an enforceable undertaking applies (for example, by building more storage, increasing import frequency, or adapting current business practices); and

a description of record-keeping, reporting, and quality assurance processes during the period to which the enforceable undertaking applies.