Document ID: chunk:federal_register_of_legislation:C2024C00517:section:40
Version: federal_register_of_legislation:C2024C00517
Segment Type: section
Provision Reference: s 40
Character Range: 63553–65419

40  Carry‑over restrictions

Kyoto units for which carry‑over is permitted
 (1) The regulations may make provision for, or in relation to, the following matters:
 (a) the identification of:
 (i) assigned amount units in Registry accounts; or
 (ii) certified emission reductions (other than temporary certified emission reductions or long‑term certified emission reductions) in Registry accounts; or
 (iii) emission reduction units (other than emission reduction units that have been converted from removal units) in Registry accounts;
  as Kyoto units for which carry‑over is permitted subject to such limits or restrictions (if any) as are specified in the regulations;
 (b) the procedures for the carry‑over of such Kyoto units;
 (c) requiring the Regulator to transfer from the relevant Registry account to a mandatory cancellation account any such Kyoto units that have not been carried over in accordance with those procedures.

Kyoto units for which carry‑over is not permitted
 (2) The regulations may make provision for, or in relation to, the following matters:
 (a) the identification of Kyoto units for which carry‑over is not permitted;
 (b) requiring the Regulator to transfer from the relevant Registry account to a mandatory cancellation account any such Kyoto units held in the Registry account at a time ascertained in accordance with the regulations.
 (3) Regulations made for the purposes of paragraph (2)(a) must identify the following units issued in relation to the relevant commitment period as units for which carry‑over is not permitted:
 (a) removal units;
 (b) temporary certified emission reductions;
 (c) long‑term certified emission reductions;
 (d) emission reduction units that have been converted from removal units.

Kyoto rules
 (4) Regulations made for the purposes of this section must not be inconsistent with the Kyoto rules.