(iv) such other information (if any) as is specified in the regulations.

(2) A statement under subsection (1) may be included in a contract, order or similar document, whether or not in electronic form.

64D Acceptance of own-use notification in relation to a single supply

Scope

(1) This section applies if a person (the recipient ) gives an own-use notification to a natural gas supplier in relation to a single supply.

Acceptance of own-use notification

(2) If the conditions set out in the regulations are satisfied, the natural gas supplier may, by written notice given to the recipient, accept the own-use notification.

(3) If the conditions set out in the regulations are satisfied, the natural gas supplier must, by written notice given to the recipient, accept the own-use notification.

(4) A notice given by the natural gas supplier under subsection (2) or (3) must set out:

(a) the words “clean energy scheme - acceptance of own-use notification”; and

(b) the name of the recipient; and

(c) if the recipient has an ABN - the ABN; and

(d) a description of the supply; and

(e) the name of the natural gas supplier; and

(f) if the natural gas supplier has an ABN - the ABN;and

(g) such other information (if any) as is specified in the regulations.

(5) A notice under subsection (2) or (3) may be included in a contract, order or similar document, whether or not in electronic form.

(6) If the natural gas supplier does not accept the own-use notification, this Act (other than this section) has effect as if the recipient had not given the own-use notification to the natural gas supplier in relation to the supply.

Civil penalty provision

(7) Subsection (3) is a civil penalty provision .

Note: Part 17 provides for pecuniary penalties for breaches of civil penalty provisions.

64E Acceptance of own-use notification in relation to a class of supplies

Scope

(1) This section applies if a person (the recipient ) gives an own-use notification to a natural gas supplier in relation to a particular class of supplies.

Acceptance of own-use notification

(2) If the conditions set out in the regulations are satisfied, the natural gas supplier may, by written notice given to the recipient, accept the own-use notification.

(3) If the conditions set out in the regulations are satisfied, the natural gas supplier must, by written notice given to the recipient, accept the own-use notification.

(4) A notice given by the natural gas supplier under subsection (2) or (3) must set out:

(a) the words “clean energy scheme - acceptance of own-use notification”; and

(b) the name of the recipient; and

(c) if the recipient has an ABN - the ABN; and

(d) a description of the class of supplies; and

(e) the name of the natural gas supplier; and

(f) if the natural gas supplier has an ABN - the ABN; and

(g) such other information (if any) as is specified in the regulations.

(5) A notice under subsection (2) or (3) may be included in a contract, order or similar document, whether or not in electronic form.

(6) If the natural gas supplier does not accept the own-use notification, this Act (other than this section) has effect as if the recipient had not given the own-use notification to the natural gas supplier in relation to each supply included in the class of supplies.

Civil penalty provision

(7) Subsection (3) is a civil penalty provision .

Note: Part 17 provides for pecuniary penalties for breaches of civil penalty provisions.

64F Misuse of own-use notification

(1) A person (the recipient ) must not give an own-use notification to a natural gas supplier in relation to a supply of natural gas by the natural gas supplier to the recipient unless:

(a) the recipient is permitted to do so by section 64A; or

(b) the recipient is required to do so by section 64B.

(2) If the recipient breaches subsection (1), this Act (other than this section) has effect as if the recipient had not given an own-use notification to the natural gas supplier in relation to the supply of natural gas concerned.

Civil penalty provision

(3) Subsection (1) is a civil penalty provision .

Note: Part 17 provides for pecuniary penalties for breaches of civil penalty provisions.

Division 4B - Follow-up notifications

64G Follow-up notification

(1) If the conditions specified in the regulations are satisfied, a person (the recipient ) may give a follow-up notification to a natural gas supplier in relation to one or more parts of an amount of natural gas supplied by the natural gas supplier to the recipient.

(2) The recipient is not entitled to give more than one follow-up notification to the natural gas supplier in connection withthe amount of natural gas supplied by the natural gas supplier to the recipient.

64H Method of giving follow-up notification

(1) A person (the recipient ) gives a follow-up notification to a natural gas supplier in relation to one or more parts (the relevant parts ) of an amount of natural gas supplied by the natural gas supplier to the recipient if:

(a) the recipient makes a statement to the natural gas supplier in connection with the relevant parts; and

(b) the statement is in writing; and

(c) the statement specifies the relevant parts; and

(d) the statement sets out:

(i) the words “clean energy scheme - follow-up notification”; and

(ii) the name of the recipient; and

(iii) if the recipient has an ABN - the ABN; and

(iv) such other information (if any) as is specified in the regulations.

(2) A statement under subsection (1) may be included in a document, whether or not in electronic form.

64J Misuse of follow-up notification

(1) A person (the recipient ) must not give a follow-up notification to a natural gas supplier in relation to one or more parts (the relevant parts ) of an amount of natural gas supplied by the natural gas supplier to the recipient unless the recipient is permitted to do so by section 64G.

(2) If the recipient breaches subsection (1), this Act (other than this section) has effect as if the recipient had not given a follow-up notification to the natural gas supplier in relation the relevant parts.

Civil penalty provision

(3) Subsection (1) is a civil penalty provision .

Note: Part 17 provides for pecuniary penalties for breaches of civil penalty provisions.

54   Subparagraph 92A(4)(b)(i)

After “a GST joint venture”, insert “, or the joint venture operator of a GST joint venture,”.

55   At the end of subparagraph 92A(4)(b)(ii)

Add “or the joint venture operator of the GST joint venture”.

56   Paragraph 92A(4)(b)

After “GST joint venture” (last occurring), insert “, or the joint venture operator of the GST joint venture,”.

57   After subsection 92A(8)

Insert:

(8A) For the purposes of this section, joint venture operator has the same meaning as in the Fuel Tax Act 2006.

58   Subsection 101(1)

Omit “15 million”, substitute “20 million”.

59   After subsection 101(1)

Insert:

(1A) Subsection (1) does not apply to carbon units with the vintage year beginning on 1 July 2015 that are issued as a result of auctions that are conducted by the Regulator during the financial year beginning on 1 July 2013.

(1B) The Regulator must ensure that not more than 40 million carbon units with the vintage year beginning on 1 July 2015 are issued as a result of auctions that were conducted by the Regulator during the financial year beginning on 1 July 2013 ifthere are no regulations in effect that declare the carbon pollution cap, and the carbon pollution cap number, for the vintage year.

60   Subsection 101(2)

Omit “15 million”, substitute “20 million”.

61   At the end of section 101

Add:

(3) The Regulator must ensure that no carbon units with a particular vintage year are issued as a result of auctions that were conducted by the Regulator during a financial year ifthe financial year begins more than 36 months before the start of the vintage year.

62   Paragraph 102(1)(a)

After “year”, insert “(the relevant vintage year )”.

63   Paragraphs 102(1)(b) and (c)

Omit “that vintage year”, substitute “the relevant vintage year”.

64   Subsection 102(1)

Omit “carbon pollution cap number for that vintage year.”, substitute:

sum of:

(d) the carbon pollution cap number for the relevant vintage year; and

(e) the total number of carbon units with the relevant vintage year that were relinquished before the start of the relevant vintage year; and

(f) the total number of carbon units with the relevant vintage year, or with an earlier vintage year, that were relinquished during the relevant vintage year.

65   Subsection 102(3)

Repeal the subsection.

66   Subsection 111(5)

Omit all the words from and including “so long as”to and including “that reserve charge amount”, substitute “so long as, in a case wherethere is a reserve charge amount in relation to the auction (see subsection (6A)), the amount the person indicated or declared, in the course of the auction, that the person would be willing to pay by way of charge for the issue of the unit is not less than that reserve charge amount”.

67   After subsection 111(6)

Insert:

(6A) The Minister may, by legislative instrument, determine that, for the purposes of subsection (5),the reserve charge amount in relation to a specified auction is the amount ascertained in accordance with the determination.

68   Section 112

Repeal the section.

69   Paragraph 113(2)(m)

Repeal the paragraph.

70   Paragraph 113(2)(r)

Omit “in the case of an auction under section 111 - ”.

71   Paragraph 113(2)(r)

Omit “charges;”, substitute “charges.”.

72   Paragraph 113(2)(s)

Repeal the paragraph.

73   Section 121

Omit:

• An eligible international emissions unit cannot be surrendered in relation to the first 3 flexible charge years unless the person pays the charge imposed on that surrender.

74   Section 121 (note 1)

Omit “Note 1”, substitute “Note”.

75   Section 121 (note 2)

Repeal the note.

76   After subsection123(1)

Insert:

(1A) In making a recommendation to the Governor-General about regulations to be made for the purposes of subsection (1), the Minister must have regard to any relevant report given to the Minister by the Climate Change Authority under Part 22.

77   Paragraph 123(2)(d)

Repeal the paragraph.

78   After paragraph 123(2)(e)

Insert:

(ea) the extent to which the regulations would facilitate linking of the scheme embodied in this Act and the associated provisions with other emissions trading schemes; and

79   After section 123

Insert:

123A Designated limit

General rule - units other than listed units

(1) The regulations may declare that:

(a) eligible international emissions units (other than listed units) included in a specified class of eligible international emissions units are subject to a designated limit for:

(i) a specified eligible financial year; and

(ii) each later eligible financial year; and

(b) a specified percentage is the designated limit percentage applicable to that designated limit.

Note: For listed unit , see subsection (8).

(2) Each designated limit must be identified in the regulations by a unique name.

(3) The specified eligible financial year must not be earlier than the eligible financial year beginning on 1 July 2015.

(4) The specified eligible financial year must be later than the second eligible financial year after the eligible financial year in whichthe regulations are registered under the Legislative Instruments Act 2003.

(5) However, if the Minister is satisfied that it is appropriate to do so in order to give effect to:

(a) an international agreement; or

(b) an international arrangement (within the meaning of the Australian National Registry of Emissions Units Act 2011); or

(c) an amendment of such an agreement or arrangement; or

(d) the termination of such an agreement or arrangement;

the specified eligible financial year may be the eligible financial year next following the eligible financial year in which the regulations are registered under the Legislative Instruments Act 2003.

Special rule - listed units

(6) The following provisions have effect:

(a) eligible international emissions units that are listed units are subject to a designated limit for:

(i) the eligible financial year beginning on 1 July 2015; and

(ii) each later eligible financial year; and

(b) the designated limit percentage applicable to that designated limitfor the eligible financial year concerned is:

(i) 12.5%; or

(ii) if the eligible financial year begins on or after 1 July 2020, and the regulations specify another percentage for that year - that other percentage; and

(c) that designated limit is to be known as the listed unit designated limit .

(7) A percentage must not be specified for an eligible financial year in regulations made for the purposes of subparagraph (6)(b)(ii) unless the eligible financial year is later than the eligible financial year in which the regulations are registered under the Legislative Instruments Act 2003.

Listed unit

(8) For the purposes of this section, listed unit means:

(a) a Kyoto unit; or

(b) an eligible international emissions unit included in a class of eligible international emissions units specified in the regulations.

(9) Regulations made for the purposes of paragraph (8)(b) must not specify either of the following classes of units:

(a) European allowance units;

(b) Australian-issued international units that were issued in relation to European allowance units.

Regulations

(10) In making a recommendation to the Governor-General about regulations to be made for the purposes of this section, the Minister must have regard to any relevant report given to the Minister by the Climate Change Authority under Part 22.

(11) In making a recommendation to the Governor-General about regulations to be made for the purposes of this section, the Minister may have regard to:

(a) Australia’s international objectives; and

(b) Australia’s international obligations (including obligations under international climate change agreements); and

(c) the environmental integrity of this Act and the associated provisions; and

(d) the extent to which eligible international emissions units may be surrendered, accepted or used for the purposes of:

(i) the Climate Change Response Act 2002 of New Zealand; or

(ii) the European Union emissions trading scheme; and

(e) the extent to which the regulations would facilitate linking of the scheme embodied in this Act and the associated provisions with other emissions trading schemes; and

(f) such other matters (if any) as the Minister considers relevant.

80   Section 124

Repeal the section.

80A   Paragraph 126(2)(a)

Omit “a particular provision of Division 2 of Part 3 in so far as that provision”, substitute “Division 2 of Part 3 in so far as that Division”.

80B   Paragraph 126(2)(b)

Omit “that provision in so far as that provision”, substitute “that Division in so far as that Division”.

80C   Subsection 126(4)

Omit “provisional emissions number of the person for the relevant eligible financial year under a particular provision of Division 2 of Part 3 in so far as that provision”, substitute “total of the provisional emissions numbers of the person for the relevant eligible financial year under Division 2 of Part 3 in so far as that Division”.

80D   Subparagraphs 127(1)(d)(ii) and (iii)

Omit “a particular provision of Division 2 of Part 3 in so far as that provision”, substitute “Division 2 of Part 3 in so far as that Division”.

81   Subsection 133(7)

Repeal the subsection, substitute:

Eligible international emissions units - surrender limits

(7) If:

(a) the relevant eligible financial year is:

(i) the eligible financial year beginning on 1 July 2015; or

(ii) a later eligible financial year; and

(b) before the end of 1 February next following the relevant eligible financial year, the person surrendered, in relation to the relevant eligible financial year, eligible international emissions units; and

(c) there is an unacceptable designated limit situation of the person for the relevant eligible financial year;

this section has effect as if:

(d) the person had not, before the end of 1 February next following the relevant eligible financial year, surrendered, in relation to the relevant eligible financial year, the eligible international emissions units covered by the unacceptable designated limit situation; and

(e) the person had, before the end of 1 February next following the next eligible financial year, surrendered, in relation to the next eligible financial year, the eligible international emissions units covered by the unacceptable designated limit situation.

Note 1: For unacceptable designatedlimit situation , see subsection (7F).

Note 2: For a special rule about the order in which units are taken to have been surrendered, see subsection (7G).

(7A) If:

(a) the relevant eligible financial year is:

(i) the eligible financial year beginning on 1 July 2015; or

(ii) any of the next 4 eligible financial years; and

(b) before the end of 1 February next following the relevant eligible financial year, the person surrendered, in relation to the relevant eligible financial year, eligible international emissions units; and

(c) there is an unacceptable general limit situation of the person for the relevant eligible financial year;

this section has effect as if:

(d) the person had not, before the end of 1 February next following the relevant eligible financial year, surrendered, in relation to the relevant eligible financial year, the eligible international emissions units covered by the unacceptable general limit situation; and

(e) the person had, before the end of 1 February next following the next eligible financial year, surrendered, in relation to the next eligible financial year, the eligible international emissions units covered by the unacceptable general limit situation.

Note 1: For unacceptable generallimit situation , see subsection (7E).

Note 2: For a special rule about the order in which units are taken to have been surrendered, see subsection (7G).

(7B) If there are 2 or more unacceptable designated limit situations of the person for the relevant eligible financial year, subsection (7) is to be applied separately in relation to each of those designated limit situations:

(a) in the order ascertained in accordance with a legislative instrument made by the Minister; or

(b) if no instrument is in force under paragraph (a) - in the order that corresponds to the lowest-to-highest ranking of the respective designated limit percentages applicable to the relevant designated limits(that is, with the lowest designated limit percentage being ranked1 and the second lowest designated limit percentage being ranked 2 and so on).

(7C) For the purposes of paragraph (7B)(b), if the same designated limit percentage is applicable to 2 or more designated limits:

(a) those designated limit percentages are to be ranked in the order that corresponds to the alphabetical order of the names of the respective designated limits (for example, with a percentage applicable to a designated limit that has a name beginning with the letter A being ranked 1 and a percentage applicable to a designated limit that has a name beginning with the letter B being ranked 2 and so on); and

(b) that ranking is taken to be a lowest-to-highest ranking of those designatedlimit percentages.

(7D) Subsection (7A) is to be applied after:

(a) if there is only one unacceptable designated limit situation of the person for the relevant eligible financial year - subsection (7) has been applied; or

(b) if there are 2 or more unacceptable designated limit situations of the person for the relevant eligible financial year - the last application of subsection (7).

(7E) For the purposes of this section, if:

(a) the relevant eligible financial year is:

(i) the eligible financial year beginning on 1 July 2015; or

(ii) any of the next 4 eligible financial years; and

(b) before the end of 1 February next following the relevant eligible financial year, the person surrendered, in relation to the relevant eligible financial year, eligible international emissions units; and

(c) the number of eligible international emissions units exceeds 50% of the emissions number of the person for the relevant eligible financial year;

then:

(d) there is an unacceptable general limit situation of the person for the relevant financial year; and

(e) the eligible international emissions units covered by the situation are to be ascertained as follows:

(i) rank the units covered by paragraph (b) in the reverse consecutive order to the order in which the units were surrendered (that is, with the first most recently surrendered unit being ranked 1 and the second most recently surrendered unit being ranked 2 and so on);

(ii) identify the units ranked with a number that is less than, or equal to, the excess mentioned in paragraph (c);

(iii) the units identified under subparagraph (ii) of this paragraph are the units covered by the situation.

(7F) For the purposes of this section, if:

(a) the relevant eligible financial year is:

(i) the eligible financial year beginning on 1 July 2015; or

(ii) a later eligible financial year; and

(b) before the end of 1 February next following the relevant eligible financial year, the person surrendered, in relation to the relevant eligible financial year, eligible international emissions units; and

(c) some or all of the eligible international emissions units are subject to a particular designated limit for the relevant eligible financial year; and

(d) the number of units covered by paragraph (c) exceeds the applicable designated percentage of the emissions number of the person for the relevant eligible financial year;

then:

(e) there is an unacceptable designatedlimit situation of the person for the relevant financial year; and

(f) the eligible international emissions units covered by the situation are to be ascertained as follows:

(i) rank the units covered by paragraph (c) in the reverse consecutive order to the order in which the units were surrendered (that is, with the first most recently surrendered unit being ranked 1 and the second most recently surrendered unit being ranked 2 and so on);

(ii) identify the units ranked with a number that is less than, or equal to, the excess mentioned in paragraph (d);

(iii) the units identified under subparagraph (ii) of this paragraph are the units covered by the situation.

(7G) For the purposes of this section, if 2 or more eligible international emissions units are surrendered at the same time, the units are taken to have been surrendered:

(a) in the order ascertained in accordance with a legislative instrument made by the Minister; or

(b) if no instrument is in force under paragraph (a) - in the order that corresponds to the numeric order of the serial numbers of the units.

82   Before subsection 196(1)

Insert:

11 months ending on 31 May 2015

(1AA) Within 7 business days after the end of 31 May 2015, the Regulator must publish on its website the amount worked out to 2 decimal places (rounding up if the third decimal place is 5 or more) using the formula:

where:

number of units issued as the result of auctions means the total number of carbon units that were issued as the result of auctions conducted by the Regulator during the 11-month period ending at the end of May 2015.

total auction proceeds means the total amount paid or payable by way of charges for the issue of carbon units that were issued as the result of auctions conducted by the Regulator during the 11-month period ending at the end of May 2015.

(1AB) For the purposes of this Act, the amount worked out under subsection (1AA) is taken to be the average carbon unit auction price for the 6-month period ending at the end of May 2015.

83   Paragraph196(1)(a)

Omit “2015”, substitute “2016”.

84   After subsection 196(1)

Insert:

(1A) For the purposes of this Act, the amount worked out under subsection (1) is taken to be the average carbon unit auction price for the 6-month period ending at the end of that May.

85   After subsection 196(2)

Insert:

(2A) For the purposes of this Act, the amount worked out under subsection (2) is taken to be the average carbon unit auction price for the 6-month period ending at the end of that November.

86   After section 196

Insert:

196A Per-tonne carbon price equivalent

(1) Within 7 business days after the end of each designated 6-month period, the Regulator must publish on its website the per-tonne carbon price equivalent for the designated 6-month period.

Note: For designated 6-month period , see subsection (18).

Per-tonne carbon price equivalent - basic rule

(2) The per-tonne carbon price equivalent for a designated 6-month period is to be worked out to 2 decimal places (rounding up if the third decimal place is 5 or more) using the formula:

where:

average carbon unit auction price means the average carbon unit auction price for the designated 6-month period.

total of adjusted reference prices means the total of the adjusted reference prices for the designated 6-month period.

total of designated limit percentages means the total of the designated limit percentages for the classes of eligible international emissions units that are subject to designated limits for the financial year in which the designated 6-month period ends.

(3) Subsection (2) has effect subject to subsection (4).

Per-tonne carbon price equivalent - special rule

(4) If:

(a) no instrument is in force under subsection (6) at the end of a particular designated 6-month period; or

(b) the per-tonne carbon price equivalent worked out under subsection (2) for a particular designated 6-month period is greater than the average carbon unit auction price for the designated 6-month period;

the per-tonne carbon price equivalent for the designated 6-month period is equal to the average carbon unit auction price for the designated 6-month period.

Reference prices

(5) If:

(a) a particular class of eligible international emissions units is subject to a designated limit for a particular financial year; and

(b) a designated 6-month period ends in the financial year;

then, within 7 days after the end of the designated 6-month period, the Regulator must, by writing, declare that a specified amount is the reference price for the class of units for the designated 6-month period.

(6) The Minister may, by legislative instrument, determine the method that is to be used by the Regulator in making a declaration under subsection (5).

(7) In making a determination under subsection (6), the Minister must have regard to:

(a) prices paid (whether in or outside Australia) for eligible international emissions units included in each of the relevant classes of eligible international emissions units; and

(b) such other matters (if any) as the Minister considers relevant.

(8) In making a declaration under subsection (5), the Regulator must comply with a determination in force under subsection (6).

(9) The Regulator must publish a copy of a declaration under subsection (5) on the Regulator’s website.

(10) A declaration made under subsection (5) is not a legislative instrument.

Adjusted reference price

(11) For the purposes of this section, if there is a reference price for a class of eligible international emissions units for a designated 6-month period, the adjusted reference price for the class of eligible international emissions units for the designated 6-month period is worked out using the formula:

where:

designated limit percentage means the designated limit percentage for the class of eligible international emissions units for the financial year in which the designated 6-month period ends.

reference price means the reference price for the class of eligible international emissions units for the designated 6-month period.

Modifications of formula etc.

(12) If:

(a) there is a reference price for a class of eligible international emissions units for a designated 6-month period; and

(b) the reference price is higher than the average carbon unit auction price for the designated 6-month period;

then:

(c) the adjusted reference price for the class of eligible international emissions units for the designated 6-month period is to be disregarded for the purposes of the total of adjusted reference prices component of the formula in subsection (2); and

(d) the designated limit percentage for the class of eligible international emissions units for the financial year in which the designated 6-month period ends is to be disregarded for the purposes of the total of designated limit percentages component of the formula in subsection (2).

(13) If:

(a) a class of eligible international emissions units (the principal class ) is subject to a designated limit for a particular financial year; and

(b) there is a class of eligible international emissions units (the secondary class ) that:

(i) is included in the principal class; and

(ii) is subject to another designated limit for the financial year;

the designated limit percentage for the secondaryclass of eligible international emissions units for the financial year is to be disregarded for the purposes of the total of designated limit percentages component of the formula in subsection (2).

(14) If:

(a) a class of eligible international emissions units (the principal class ) is subject to a designated limit for a particular financial year; and

(b) a designated 6-month period ends in the financial year; and

(c) there is a class of eligible international emissions units (the secondary class ) that:

(i) is included in the principal class; and

(ii) is subject to another designated limit for the financial year; and

(d) the reference price for the secondaryclass of units for the designated 6-month period is greater than or equal to the reference price for the principal class of units for the designated 6-month period;

the adjusted reference price for the secondaryclass of units for the designated 6-month period is to be disregarded for the purposes of the total of adjusted reference prices component of the formula in subsection (2).

(15) For the purposes of this section, if:

(a) a class of eligible international emissions units (the principal class ) is subject to a designated limit for a particular financial year; and

(b) a designated 6-month period ends in the financial year; and

(c) there are one or more classes of eligible international emissions units (the secondary classes ) each of which:

(i) is included in the principal class; and

(ii) is subject to another designated limit for the financial year; and

(iii) has a reference price for the designated 6-month period that is less than the reference price for the principal class of units for the designated 6-month period;

the adjustedreference price for the principal class of units for the designated 6-month period is taken to be the amount worked out using the following formula (instead of the amount worked out under subsection (11)):

where:

designated limit percentage for principal class means the designated limit percentage for the principalclass of units for the financial year.

reference price for principal class meansthe reference price for the principalclass of units for the designated 6-month period.

total of designated limit percentages for secondary classes means the total of the designated limit percentages for the secondaryclasses of units for the financial year.

Interpretation

(16) For the purposes of this section, if:

(a) a particular class of eligible international emissions units is subject to a designated limit for a particular financial year; and

(b) a designated limit percentage is applicable to that designated limit;

then:

(c) the designated limit percentage is taken to be the designated limit percentage for the class of eligible international emissions units for the financial year; and

(d) the class of eligible international emissions units is taken to be subject to the designated limit percentage.

(17) For the purposes of this section, listed units form a single class of eligible international emissions units.

(18) In this section:

adjusted reference price :

(a) has the meaning given by subsection (11); and

(b) has a meaning affected by subsection (15).

class of eligible international emissions units means:

(a) the class mentioned in subsection (17); or

(b) a class specified in regulations made for the purposes of subsection 123A(1).

designated 6-month period means:

(a) the 6-month period ending at the end of May 2015; or

(b) each later 6-month period ending at the end of May; or

(c) the 6-month period ending at the end of November 2015; or

(d) each later 6-month period ending at the end of November.

listed unit has the same meaning as in section 123A.

reference price has the meaning given by subsection (5).

87   Subsections 210(3) and (4)

Repeal the subsections, substitute:

(3) If a carbon unit is relinquished by a person:

(a) the unit is cancelled; and

(b) the Regulator must remove the entry for the unit from the person’s Registry account in which there is an entry for the unit.

88   After paragraph 262(1)(m)

Insert:

(ma) subsection 64B(1);

(mb) subsection 64D(3);

(mc) subsection 64E(3);

(md) subsection 64F(1);

(me) subsection 64J(1);

89   Paragraphs 288(1)(f) and (g)

Repeal the paragraphs.

90   Paragraphs 293(4)(f) and (g)

Repeal the paragraphs.

91   Paragraph 307(9)(e)

Omit “2011;”, substitute “2011.”.

92   Paragraph 307(9)(f)

Repeal the paragraph.

Fuel Tax Act 2006

93   Paragraphs 43-8(2)(a) and (b)

Repeal the paragraphs, substitute:

(a) is the per-tonne carbon price equivalent worked out under section 196A of the Clean Energy Act 2011 for the 6-month period ending at the end of:

(i) the last May before the start of the half-year, if the half-year starts on 1 July (in 2015 or a later year); or

(ii) the last November before the start of the half-year, if the half-year starts on 1 January (in 2016 or a later year); and

(b) is the first per-tonne carbon price equivalent that is worked out under that section for that 6-month period and published under that section.

National Greenhouse and Energy Reporting Act 2007

94   Subsection 12(3)

Omit “the chief executive officer”, substitute “an executive officer”.

95   Subparagraph 22K(5)(d)(iii)

Omit “the chief executive officer”, substitute “an executive officer”.

Part 2   Amendments relating to fuel

Clean Energy Act 2011

96   Section 5 (paragraph (b) of the definition of provisional emissions number )

After “by”, insert “subsections 10(6) and (8) and”.

National Greenhouse and Energy Reporting Act 2007

97   Section 7

Insert:

liquefied natural gas has the meaning given by the regulations.

98   Section 7

Insert:

liquefied petroleum gas has the meaning given by the regulations.

99   Section 7

Insert:

natural gas supplier has the same meaning as in the Clean Energy Act 2011.

100   Section 7

Insert:

Opt-in Scheme has the same meaning as in the Clean Energy Act 2011.

101   Section 7

Insert:

OTN has the same meaning as in the Clean Energy Act 2011.

102   Section 7

Insert:

supply has the same meaning as in the Clean Energy Act 2011.

103   Section 7

Insert:

taxable fuel has the same meaning as in the Clean Energy Act 2011.

104   Section 10 (heading)

Repeal the heading, substitute:

10 Emissions, energy production, energy consumption, fuel supplied etc.

105   At the end of section 10

Add:

Measuring and adjusting fuel supplied etc.

(5) The Minister may determine, by legislative instrument, methods, or criteria for methods, by which the following:

(a) the amounts of natural gas supplied by a natural gas supplier;

(b) the amounts of a particular kind of taxable fuel acquired, manufactured or imported by a person;

(c) the amounts of liquefied petroleum gas imported, manufactured, produced or supplied by a person;

(d) the amounts of liquefied natural gas imported, manufactured, produced or supplied by a person;

are to be measured for the purposes of this Act and the Clean Energy Act 2011, and may specify:

(e) different methods or criteria for different circumstances; and

(f) conditions relating to the use of methods determined by the Minister or of methods which meet criteria determined by the Minister; and

(g) rating systems for those methods (including different rating systems for different circumstances); and

(h) the particular rating given to each of those methods.

(6) The Minister may determine, by legislative instrument, that, if:

(a) under a specified provision of:

(i) Division 3 or 3A of Part 3 of the Clean Energy Act 2011; or

(ii) the Opt-in Scheme;

there is a provisional emissions number of a person for an eligible financial year; and

(b) under the same provision of:

(i) Division 3 or 3A of Part 3 of the Clean Energy Act 2011; or

(ii) the Opt-in Scheme;

as the case may be, there is a provisional emissions number of the person for the previous eligible financial year; and

(c) the provisional emissions number mentioned in paragraph (b):

(i) was calculated using a determination under subsection (5) of this section; and

(ii) exceeds the number that would have been the provisional emissions number mentioned in paragraph (b) if that number had not been calculated using the determination; and

(d) the conditions specified in the determination are satisfied;

the provisional emissions number mentioned in paragraph (a) is taken, for the purposes of this Act and the Clean Energy Act 2011, to be reduced by a number ascertained in accordance with the determination.

(7) The number ascertained in accordance with a determination under subsection (6) must not exceed the excess mentioned in paragraph (6)(c).

(8) The Minister may determine, by legislative instrument, that, if:

(a) under a specified provision of:

(i) Division 3 or 3A of Part 3 of the Clean Energy Act 2011; or

(ii) the Opt-in Scheme;

there is a provisional emissions number of a person for an eligible financial year; and

(b) under the same provision of:

(i) Division 3 or 3A of Part 3 of the Clean Energy Act 2011; or

(ii) the Opt-in Scheme;

as the case may be, there is a provisional emissions number of the person for the previous eligible financial year; and

(c) the provisional emissions number mentioned in paragraph (b):

(i) was calculated using a determination under subsection (5) of this section; and

(ii) falls short of the number that would have been the provisional emissions number mentioned in paragraph (b) if that number had not been calculated using the determination; and

(d) the conditions specified in the determination are satisfied;

the provisional emissions number mentioned in paragraph (a) is taken, for the purposes of this Act and the Clean Energy Act 2011, to be increased by a number ascertained in accordance with the determination.

(9) The number ascertained in accordance with a determination under subsection (8) must not exceed the shortfall mentioned in paragraph (8)(c).

106   Application of amendments

(1) The amendments of the National Greenhouse and Energy Reporting Act 2007 made by this Part, in so far as they are relevant to reports under that Act, apply in relation to reports for:

(a) the financial year beginning on 1 July 2013; or

(b) a later financial year.

(2) The amendments of the National Greenhouse and Energy Reporting Act 2007 made by this Part, in so far as they are relevant to the calculation of:

(a) an interim emissions number; or

(b) apreliminary emissions number; or

(c) a provisional emissions number;

apply in relation to the calculation of aninterim emissions number,a preliminary emissions number or a provisional emissions number, as the case may be, of a person for:

(d) the financial year beginning on 1 July 2013; or

(e) a later financial year.

(3) In this item:

interimemissions number has the same meaning as in the Clean Energy Act 2011.

preliminary emissions number has the same meaning as in the Clean Energy Act 2011.

provisionalemissions number has the same meaning as in the Clean Energy Act 2011.

Part 3   Repeal of Act

Clean Energy (International Unit Surrender Charge) Act 2011

107   The whole of the Act

Repeal the Act.