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

Schedule 1

Insert:

86A Commonwealth foreign registry accounts

(1) The Commonwealth may:

(a) open and operate an account within a foreign registry; and

(b) do anything incidental to, or ancillary to, the opening or operation of such an account.

(2) An account opened under subsection (1) is to be known as a Commonwealth foreign registry account .

Regulator’s power to act on behalf of the Commonwealth

(3) The Regulator may act on behalf of the Commonwealth in relation to the powers conferred by subsection (1).

(4) The Minister may, by legislative instrument, give directions to the Regulator in relation to the Regulator’s powers under subsection (3).

(5) The Regulator must not open a Commonwealth foreign registry account on behalf of the Commonwealth unless directed to do so under subsection (4).