House of Representatives
Clean Energy (Consequential Amendments) Bill 2011
Explanatory Memorandum
Circulated By the Authority of the Minister for Climate Change and Energy Efficiency, the Honourable Greg Combet Am MPGlossary
The following abbreviations and acronyms are used in this explanatory memorandum.
| Abbreviation | Definition |
| ACCC | Australian Competition and Consumer Commission |
| ACCU | Australian Carbon Credit Unit |
| ASIC | Australian Securities and Investments Commission |
| Authority | Climate Change Authority |
| Carbon pricing mechanism | The carbon pricing mechanism set up by the Clean Energy Bill 2011 |
| CFI | Carbon Farming Initiative |
| CGT | Capital Gains Tax |
| Clean Energy Legislative Package | The Clean Energy Bill 2011 and related legislation |
| CO2-e | Carbon dioxide equivalence |
| Consequential amendments bill | Clean Energy (Consequential Amendments) Bill 2011 |
| CPRS | Carbon Pollution Reduction Scheme |
| DCCEE | Department of Climate Change and Energy Efficiency |
| EITE | Emissions-intensive, trade-exposed |
| Eligible emissions unit | A carbon unit, an eligible international emissions unit, or an eligible Australian carbon credit unit |
| Eligible international emissions unit | A certified emission reduction (other than a temporary certified emission reduction or a long-term certified emission reduction), an emission reduction unit, a removal unit, a prescribed unit issued in accordance with the Kyoto rules |
| FIFO | First-In, First-Out |
| Fixed charge period | The financial years 2012-13, 2013-14 and 2014-15, being 'fixed charge years' as defined in clause 5 of the Clean Energy Bill 2011 |
| GEDO | Greenhouse and Energy Data Officer |
| GST | Goods and Services Tax |
| HCFCs | Hydrochlorofluorocarbons |
| HFCs | Hydrofluorocarbons |
| IPCC | Intergovernmental Panel on Climate Change |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| Kyoto units | An assigned amount unit, a certified emission reduction, an emission reduction unit, a removal unit or a prescribed unit issued in accordance with the Kyoto rules |
| Import Levy Act | Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Act 1995 |
| Main bill | Clean Energy Bill 2011 |
| Manufacturing Levy Act | Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Act 1995 |
| NGER Act | National Greenhouse and Energy Reporting Act 2007 |
| NGERS | National Greenhouse and Energy Reporting System |
| Non-Kyoto international emissions units | A prescribed unit issued in accordance with an international agreement (other than the Kyoto Protocol) or a prescribed unit issued outside Australia under a law of a foreign country |
| ODS | Ozone-depleting substance |
| ORER | Office of the Renewable Energy Regulator |
| OTN | Obligation transfer number |
| Ozone Act | Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 |
| PFCs | Perfluorocarbons |
| Registry | Australian National Registry of Emissions Units |
| Registry Act | Australian National Registry of Emissions Units Act 2011 |
| Regulator | Clean Energy Regulator |
| RTC | Reporting Transfer Certificate |
| RTO | Refundable Tax Offset |
| SES | Senior Executive Service |
| SGG | Synthetic Greenhouse Gas |
| TAA 1953 | Taxation Administration Act 1953 |
| UNFCCC | United Nations Framework on Climate Change |
| VIPP | Vertically-integrated production process |