Document ID: chunk:federal_register_of_legislation:F2025C00080:clause:1_6
Version: federal_register_of_legislation:F2025C00080
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 29886–31103

6  Extended accounting period
 (1) For subsection 7A(1) of the Act, an eligible offsets project that is covered by either of the following methodology determinations has an extended accounting period of 6 years:
 (a)  the Carbon Credits (Carbon Farming Initiative—Alternative Waste Treatment) Methodology Determination 2015;
 (b)  the Carbon Credits (Carbon Farming Initiative—Source Separated Organic Waste) Methodology Determination 2016.
 (2) For subsection 7A(1) of the Act, an eligible offsets project that is covered by the Carbon Credits (Carbon Farming Initiative—Carbon Capture and Storage) Methodology Determination 2021 and does not have a return event (within the meaning of section 26 of that determination) within its crediting period, has an extended accounting period ending on the earlier of:
 (a) the day after that return event occurs; and
 (b) 25 years after the end of the project's crediting period.
 (3) In this section a reference to a methodology determination includes an earlier version of that methodology determination applicable to the project in accordance with sections 125, 126, 127 or 130 of the Act.

Part 2—Issue of Australian carbon credit units in respect of offsets projects