Clean Energy (Consequential Amendments) Act 2011 (132 of 2011)

Schedule 4   Amendments relating to the Australian National Registry of Emissions Units

Australian National Registry of Emissions Units Act 2011

23   At the end of Division 7 of Part 2

Add:

28A Administrator may defer giving effect to a transfer instruction

Scope

(1) This section applies if the Administrator receives an instruction to transfer one or more:

(a) Australian carbon credit units; or

(b) Kyoto units; or

(c) prescribed international units;

to or from a Registry account kept in the name of a person.

Administrator may defer giving effect to the instruction

(2) The Administrator may defer giving effect to the instruction, for a period not exceeding 48 hours, if the Administrator is satisfied that it is prudent to do so in order to:

(a) ensure the integrity of the Registry; or

(b) prevent, mitigate or minimise abuse of the Registry; or

(c) prevent, mitigate or minimise criminal activity involving the Registry.

Prior notice not required

(3) The Administrator is not required to give any prior notice of a deferral under subsection (2).

Other provisions

(4) This section has effect despite:

(a) any other provision of this Act; or

(b) anything in theCarbon Credits (Carbon Farming Initiative) Act 2011.

28B Administrator may refuse to give effect to a transfer instruction

Scope

(1) This section applies if the Administrator receives an instruction to transfer one or more:

(a) Australian carbon credit units; or

(b) Kyoto units; or

(c) prescribed international units;

to or from a Registry account kept in the name of a person.

Administrator may refuse to give effect to instruction

(2) The Administrator may refuse to give effect to the instruction if the Administrator is satisfied that it is prudent to do so in order to:

(a) ensure the integrity of the Registry; or

(b) prevent, mitigate or minimise abuse of the Registry; or

(c) prevent, mitigate or minimise criminal activity involving the Registry.

Notification

(3) As soon as practicable after the Administrator refuses, under subsection (2), to give effect to the instruction, the Administrator must give written notice of the refusal to:

(a) in any case - the person; or

(b) if the instruction was given by another person - that other person.

(4) A notice given to a person under subsection (3) must invite the person to request the Administrator to cease to refuse to give effect to the instruction.

(5) A request under subsection (4) must:

(a) be in writing; and

(b) be in a form approved, in writing, by the Administrator; and

(c) set out the reason for the request.

(6) If the person makes a request under subsection (4), the Administrator may, by written notice given to the person, require the person to give the Administrator, within the period specified in the notice, further information in connection with the request.

Prior notice not required

(7) The Administrator is not required to give any prior notice of a refusal under subsection (2).

Decision on request

(8) If the Administrator receives a request under subsection (4), the Administrator must:

(a) cease to refuse to give effect to the instruction; or

(b) decide to continue to refuse to give effect to the instruction.

(9) The Administrator must take all reasonable steps to ensure that a decision is made under subsection (8):

(a) if the Administrator requires the person to give further information under subsection (6) in relation to the request - within 7 days after the person gave the Administrator the information; or

(b) otherwise - within 7 days after the request was made.

(10) As soon as practicable after the Administrator makes a decision under subsection (8), the Administrator must notify the person, in writing, of the decision.

Other provisions

(11) This section has effect despite:

(a) any other provision of this Act; or

(b) anything in theCarbon Credits (Carbon Farming Initiative) Act 2011.

Note: For additional powers of refusal, see:

(a) paragraph 34(3)(a) of this Act; and

(b) paragraph 35(3)(a) of this Act; and

(c) subsection 36(2) of this Act; and

(d) subsection 53(2) of this Act.

28C Conditions restricting or limiting the operation of Registry accounts

Scope

(1) This section applies to a Registry account kept in the name of a person.

Imposition of conditions

(2) The Administrator may, by written instrument, impose conditions restricting or limiting the operation of the Registry account for a specified period.

(3) The Administrator may exercise the power conferred by subsection (2):

(a) on the Administrator's own initiative; or

(b) on written request made to the Administrator by the person.

(4) The Administrator must not make an instrument under subsection (2) unless the Administrator is satisfied that it is prudent to do so in order to:

(a) ensure the integrity of the Registry; or

(b) prevent, mitigate or minimise abuse of the Registry; or

(c) prevent, mitigate or minimise criminal activity involving the Registry.

(5) A condition under subsection (2) may:

(a) prohibit, restrict or limit the transfer of units from the Registry account; or

(b) prohibit, restrict or limit the transfer of units to the Registry account.

(6) Subsection (5) does not limit subsection (2).

Notification

(7) As soon as practicable after making an instrument under subsection (2), the Administrator must give the person a copy of the instrument.

(8) If an instrument under subsection (2) is made on the Administrator's own initiative, the copy of the instrument must be accompanied by a notice inviting the person to request the Administrator to:

(a) revoke the instrument; or

(b) vary the instrument in the manner specified in the request.

Request

(9) A request under paragraph (3)(b) or subsection (8) must:

(a) be in writing; and

(b) be in a form approved, in writing, by the Administrator; and

(c) set out the reason for the request.

Further information

(10) If the person makes a request under subsection (8), the Administrator may, by written notice given to the person, require the person to give the Administrator, within the period specified in the notice, further information in connection with the request.

Prior notice not required

(11) The Administrator is not required to give any prior notice of a decision to make an instrument under subsection (2).

Decision in relation to instrument made on own initiative

(12) If the Administrator receives a request under subsection (8), the Administrator must:

(a) if the request is to revoke the instrument:

(i) revoke the instrument; or

(ii) decide not to revoke the instrument; or

(b) if the request is to vary the instrument:

(i) vary the instrument as requested; or

(ii) decide not to vary the instrument.

(13) The Administrator must take all reasonable steps to ensure that a decision is made under subsection (12):

(a) if the Administrator requires the person to give further information under subsection (10) in relation to the request - within 7 days after the person gave the Administrator the information; or

(b) otherwise - within 7 days after the request was made.

(14) As soon as practicable after the Administrator makes a decision under subsection (12), the Administrator must notify the person, in writing, of the decision.

Revocation of instrument made in response to a request

(15) If:

(a) an instrument is in force under subsection (2); and

(b) the instrument was made in response to a request under paragraph (3)(b);

the Administrator must, at the written request of the person, revoke the instrument.

Acts Interpretation Act

(16) Subsections (12) and (15) do not, by implication, limit subsection 33(3) of theActs Interpretation Act 1901.

Other provisions

(17) This section has effect despite:

(a) any other provision of this Act; or

(b) anything in theCarbon Credits (Carbon Farming Initiative) Act 2011.

28D Suspension of Registry accounts

Scope

(1) This section applies to a Registry account kept in the name of a person.

Suspension

(2) The Administrator may, by written instrument, suspend the Registry account for a specified period.

(3) The Administrator may exercise the power conferred by subsection (2):

(a) on the Administrator's own initiative; or

(b) on written request made to the Administrator by the person.

(4) The Administrator must not make an instrument under subsection (2) unless the Administrator is satisfied that it is prudent to do so in order to:

(a) ensure the integrity of the Registry; or

(b) prevent, mitigate or minimise abuse of the Registry; or

(c) prevent, mitigate or minimise criminal activity involving the Registry.

(5) If an account is suspended under subsection (2):

(a) the Administrator must not:

(i) give effect to any instruction to transfer units to or from the Registry account; or

(ii) issue any Australian carbon credit units to the Registry account; and

(b) a notice to relinquish Australian carbon credit units under section 175 of theCarbon Credits (Carbon Farming Initiative) Act 2011 does not have effect.

Notification

(6) As soon as practicable after making an instrument under subsection (2), the Administrator must give the person a copy of the instrument.

(7) If an instrument under subsection (2) is made on the Administrator's own initiative, the copy of the instrument must be accompanied by a notice inviting the person to request the Administrator to:

(a) revoke the instrument; or

(b) vary the instrument in the manner specified in the request.

Request

(8) A request under paragraph (3)(b) or subsection (7) must:

(a) be in writing; and

(b) be in a form approved, in writing, by the Administrator; and

(c) set out the reason for the request.

Further information

(9) If the person makes a request under subsection (7), the Administrator may, by written notice given to the person, require the person to give the Administrator, within the period specified in the notice, further information in connection with the request.

Prior notice not required

(10) The Administrator is not required to give any prior notice in relation to the decision to make an instrument under subsection (2).

Decision in relation to instrument made on own initiative

(11) If the Administrator receives a request under subsection (7), the Administrator must:

(a) if the request is to revoke the instrument:

(i) revoke the instrument; or

(ii) decide not to revoke the instrument; or

(b) if the request is to vary the instrument:

(i) vary the instrument as requested; or

(ii) decide not to vary the instrument.

(12) The Administrator must take all reasonable steps to ensure that a decision is made under subsection (11):

(a) if the Administrator requires the person to give further information under subsection (9) in relation to the request - within 7 days after the person gave the Administrator the information; or

(b) otherwise - within 7 days after the request was made.

(13) As soon as practicable after the Administrator makes a decision under subsection (11), the Administrator must notify the person, in writing, of the decision.

Revocation of instrument made in response to a request

(14) If:

(a) an instrument is in force under subsection (2); and

(b) the instrument was made in response to a request under paragraph (3)(b);

the Administrator must, at the written request of the person, revoke the instrument.

Acts Interpretation Act

(15) Subsections (11) and (14) do not, by implication, limit subsection 33(3) of theActs Interpretation Act 1901.

Other provisions

(16) This section has effect despite:

(a) any other provision of this Act; or

(b) anything in theCarbon Credits (Carbon Farming Initiative) Act 2011.