Document ID: chunk:federal_register_of_legislation:F2021L00547:reg:5
Version: federal_register_of_legislation:F2021L00547
Segment Type: reg
Provision Reference: reg 5
Character Range: 2806–3788

5  Prescribed program
 (1) For the purposes of subsection 33(1) of the Act, the Carbon Capture, Use and Storage Development Program (the program) is prescribed.
 (2) The program provides funding to support pilot projects and pre‑commercialisation activities for:
 (a) the capture of carbon dioxide for subsequent use or storage; and
 (b) the use or storage of carbon dioxide.
 (3) The purpose of the program is to:
 (a) reduce emissions from energy generation, natural gas production and heavy industries (including manufacturing, chemical production, cement production and fertiliser production), to contribute to meeting Australia's emission reduction obligations; and
 (b) accelerate the commercialisation of technologies for the capture, use or storage of carbon dioxide and encourage industry investment in deploying those technologies in Australia; and
 (c) encourage the development of prospective hubs related to the capture, use or storage of carbon dioxide in Australia.