Corporations Amendment Regulation 2012 (No. 1) (42 of 2012)

Schedule 1   Amendments

[5]   After regulation 7.1.35A

insert

7.1.35B Conduct that does not constitute dealing in a financial product - issuing carbon units, Australian carbon credit units or eligible international emissions units

For subsection 766C (7) of the Act, a financial service provided by a person is taken not to be dealing in a financial product if:

(a)the financial product is a carbon unit, an Australian carbon credit unit or an eligible international emissions unit; and

(b)the person is:

(i)the Clean Energy Regulator; or

(ii)the Clean Development Mechanism Executive Board; or

(iii)the government of a country other than Australia; or

(iv)an authority acting on behalf of the government of a country other than Australia; and

(c)the financial service consists of issuing the carbon unit, Australian carbon credit unit or eligible international emissions unit.

7.1.35C Conduct that does not constitute dealing in a financial product - carbon units, Australian carbon credit units or eligible international emissions units

For subsection 766C (7) of the Act, a financial service provided by a person is taken not to be dealing in a financial product if:

(a)the financial product is a carbon unit, an Australian carbon credit unit or an eligible international emissions unit; and

(b)the financial service consists of dealing in the carbon unit, Australian carbon credit unit or eligible international emissions unit on behalf of:

(i)a related body corporate of the person; or

(ii)an associated entity of the person; and

(c)the related body corporate or associated entity is an entity that is a liable entity entered in the information database under section 183 of the Clean Energy Act 2011.