Document ID: chunk:federal_register_of_legislation:C2024C00490:section:27:p1
Version: federal_register_of_legislation:C2024C00490
Segment Type: section
Provision Reference: s 27 (pt 1/4)
Character Range: 83090–85941

27  Declaration of eligible offsets project

Scope
 (1) This section applies if an application under section 22 has been made for a declaration of an offsets project as an eligible offsets project.

Declaration
 (2) After considering the application, the Regulator may, by writing, declare that the offsets project is an eligible offsets project for the purposes of this Act.
 (3) A declaration under subsection (2) must:
 (a) identify the name of the project; and
 (b) if the project is an area‑based offsets project—identify, in accordance with the regulations or the legislative rules, the project area or project areas; and
 (c) identify the project proponent for the project; and
 (ca) identify the applicable methodology determination for the project; and
 (cb) identify the crediting period or periods for the project; and
 (d) identify such attributes of the project as are specified in the regulations or the legislative rules; and
 (e) if:
 (i) the project is a sequestration offsets project; and
 (ii) the application included a request that the project be treated as a 100‑year permanence period project;
  declare that the project is a 100‑year permanence period project; and
 (f) if:
 (i) the project is a sequestration offsets project; and
 (ii) the application included a request that the project be treated as a 25‑year permanence period project;
  declare that the project is a 25‑year permanence period project.

Criteria for declaration
 (4) The Regulator must not declare that the offsets project is an eligible offsets project unless the Regulator is satisfied that:
 (a) the project is, or is to be, carried on in Australia; and
 (b) the project is covered by a methodology determination; and
 (c) the project meets such requirements as are set out in the methodology determination in accordance with paragraph 106(1)(b); and
 (d) the project meets the additionality requirements set out in subsection (4A) of this section; and
 (e) the applicant is the project proponent for the project; and
 (f) the applicant passes the fit and proper person test; and
 (g) if the project is a sequestration offsets project—the project area, or each project area, meets the requirements set out in subsection (5) of this section; and
 (l) the project meets the eligibility requirements (if any) specified in the regulations or the legislative rules; and
 (m) the project is not an excluded offsets project.
Note 1: Methodology determinations are made under section 106.
Note 2: For the fit and proper person test, see section 60.
Note 3: For excluded offsets project, see section 56.
 (4A) The additionality requirements mentioned in paragraph (4)(d) are:
 (a) either:
 (i) the requirement (the newness requirement) that the project has not begun to be implemented; or
 (ii) if the methodology determination that covers the project specifies,