Document ID: chunk:federal_register_of_legislation:F2018C00126:reg:48
Version: federal_register_of_legislation:F2018C00126
Segment Type: reg
Provision Reference: reg 48
Character Range: 62428–64329

48  Sequestration period
 (1) This subsection sets out a simplified description of the sequestration period.

         • For each reporting period the general rule is that sequestration of carbon in soil, and changes in emissions, in a particular carbon estimation area are calculated only for the portion of the reporting period over which a project management activity is taking place in that carbon estimation area. This is termed the 'sequestration period' of the particular reporting period.
         • The exception to this general rule is when there has been a 'depletion event' under Division 8. After such an event:

                – further sequestration of soil carbon stocks is not credited until the depletion event has finished and soil carbon stocks have been replenished to the levels they were at before the depletion event; and
                – changes in emissions are not calculated until the depletion event has finished (but they are calculated while soil carbon stocks are being replenished to the levels they were at before the depletion event).

          The rules for depletion events are set out in Division 8.
 (2) Subject to section 91 (which deals with depletion events), for a carbon estimation area in which a particular project management activity is being undertaken, the sequestration period, for a particular reporting period (the current reporting period):
 (a) commences:
 (i) if the project management activity had commenced in a previous reporting period and has not been changed in accordance with section 85 (in which case the activity is continuing into the current reporting period)—at the start of the current reporting period; and
 (ii) if the project management activity commences during the reporting period—when the activity is taken to commence in accordance with Division 3 of Part 3; and
 (b) ends at the end of the current reporting period.