§ 28 — Reporting capacity to hold, etc.

28.—(1) If an entity is subject to the minimum stockholding requirement in relation to an MSR product, and the entity intends —(a)

to undertake another MSR activity in relation to the same MSR product;

(b)

to permanently or indefinitely cease undertaking an MSR activity in relation to the same MSR product; or

(c)

to cease undertaking an MSR activity in relation to the same MSR product in circumstances in which paragraph (b) does not apply,

the entity must give the Director‑General, Food Security a written advice in advance in accordance with subsection (2).

(2) The written advice must —(a)

set out details of the situation to which the advice relates;

(b)

set out any matters that might affect the entity’s capacity to meet any minimum stockholding requirement in relation to an MSR product;

(c)

be in accordance with any other requirements prescribed by the Part 2 Rules; and

(d)

be given to the Director‑General, Food Security within the period (if any) prescribed by the Part 2 Rules for the situation.

(3) An entity that intentionally or negligently contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.

—(1) If an entity is subject to the minimum stockholding requirement in relation to an MSR product, and the entity intends —(a)

to undertake another MSR activity in relation to the same MSR product;

(b)

to permanently or indefinitely cease undertaking an MSR activity in relation to the same MSR product; or

(c)

to cease undertaking an MSR activity in relation to the same MSR product in circumstances in which paragraph (b) does not apply,

the entity must give the Director‑General, Food Security a written advice in advance in accordance with subsection (2).

(2) The written advice must —(a)

set out details of the situation to which the advice relates;

(b)

set out any matters that might affect the entity’s capacity to meet any minimum stockholding requirement in relation to an MSR product;

(c)

be in accordance with any other requirements prescribed by the Part 2 Rules; and

(d)

be given to the Director‑General, Food Security within the period (if any) prescribed by the Part 2 Rules for the situation.

(3) An entity that intentionally or negligently contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.