Document ID: chunk:federal_register_of_legislation:F2025C00080:clause:1_11ac
Version: federal_register_of_legislation:F2025C00080
Segment Type: clause
Provision Reference: sch 1 cl 11AC
Character Range: 57624–59266

11AC  Indexation of price of Australian carbon credit units for sale by Regulator
 (1) At the start of each financial year (an indexation year) beginning on or after 1 July 2024, the price specified in subsection 11AB(4) is replaced by the amount worked out using the following formula:
              Indexation factor for the indexation year × Dollar amount for the previous year
 (2) The indexation factor for an indexation year is the number worked out using the following formula:

  where:
  base quarter means the last March quarter before the reference quarter.
  index number, for a quarter, means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician for that quarter.
  reference quarter means the March quarter immediately before the indexation year.
 (3) An indexation factor is to be calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
 (4) If an indexation factor worked out under subsection (2) would be less than 1, that indexation factor is to be increased to 1.

 (5) Calculations under subsection (2):
  (a) are to be made using only the index numbers published in terms of the most recently published index reference period; and
 (b) are to be made disregarding index numbers that are published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).
 (6) An amount worked out under subsection (1) is to be calculated to 2 decimal places (rounding up if the third decimal place is 5 or more).