Clean Energy Amendment (International Emissions Trading and Other Measures) Act2012 (204 of 2012)

Schedule 1  

Part 1   General amendments

Australian National Registry of Emissions Units Act 2011

17   Before section 49

Insert:

Division 2 - Australian-issued international units

48A Issue of Australian-issued international units

The Regulator may, on behalf of the Commonwealth, issue units, to be known as Australian-issued international units .

Note: See also section 48D.

48B Serial number

(1) An Australian-issued international unit is to be identified by a unique number, to be known as the serial number of the unit.

(2) For the purposes of this section, number includes a combination of:

(a) one or more digits; and

(b) one or more letters.

48C How Australian-issued international units are to be issued

(1) The Regulator is to issue an Australian-issued international unit to a person by making an entry for the unit in a Registry account kept by the person.

(2) An entry for an Australian-issued international unit in a Registry account is to consist of the serial number of the unit.

(3) The Regulator must not issue an Australian-issued international unit to a person unless the person has a Registry account.

48D When Australian-issued international units may be issued

(1) The Regulator must not issue an Australian-issued international unit unless the conditions set out in the regulations are satisfied.

(2) Regulations made for the purpose of subsection (1) must give effect to the principle that an Australian-issued international unit must not be issued unless a corresponding foreign emissions unit has been withdrawn from circulation within a foreign registry.

(3) For the purposes of this section, a corresponding foreign emissions unit means a unit (however described) that is issued outside Australia.

48E Regulations about Australian-issued international units

(1) The regulations may make further provision in relation to Australian-issued international units.

(2) Regulations made for the purposes of subsection (1) may make provision requiring a person to notify a matter to the Regulator.

(3) Subsection (2) does not limit subsection (1).

Requirement

(4) If aperson is subject to a requirement under regulations made for the purposes of subsection (1) or (2), the person must comply with that requirement.

Ancillary contraventions

(5) A person must not:

(a) aid, abet, counsel or procure a contravention of subsection (4); or

(b) induce, whether by threats or promises or otherwise, a contravention of subsection (4); or

(c) be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (4); or

(d) conspire with others to effect a contravention of subsection (4).

Civil penalty provisions

(6) Subsections (4) and (5) are civil penalty provisions .

Note: Part 7 provides for pecuniary penalties for breaches of civil penalty provisions.

Division 3 - General provisions