Safeguard Mechanism (Crediting) Amendment Act 2023 (14 of 2023)

Schedule 4   Other amendments

Part 1   Amendments commencing day after Royal Assent

Carbon Credits (Carbon Farming Initiative) Act 2011

1   At the end of section 20C

Add:

(3) The Regulator must not enter into a carbon abatement contract under section 20B (otherwise than by way of novation) if any of the eligible carbon credit units to be purchased under the contract:

(a) were issued; or

(b) at the time of purchase, would have been issued;

in respect of an eligible offsets project of a kind specified in the legislative rules.