Document ID: chunk:federal_register_of_legislation:C2024C00572:section:21
Version: federal_register_of_legislation:C2024C00572
Segment Type: section
Provision Reference: s 21
Character Range: 70506–72915

21  Reports relating to greenhouse gas projects: reduction of greenhouse gas emissions and removals of greenhouse gases
 (1) A registered corporation may, in respect of a financial year or such longer period as the Regulator allows, provide a report to the Regulator relating to the:
 (a) reduction of greenhouse gas emissions; and
 (b) removals of greenhouse gases;
from a greenhouse gas project that the corporation, or one or more members of the corporation's group, have undertaken during that year or period.
 (2) If a registered corporation or a member of its group undertakes a greenhouse gas project for part of a financial year or period, the report under subsection (1) in relation to the project for that year or period must only relate to the:
 (a) reduction of greenhouse gas emissions; and
 (b) removal of greenhouse gases;
from the project which are attributable to that part of the year or period.
 (3) A report must not be provided under subsection (1) unless the greenhouse gas project satisfies the requirements specified in the regulations made for the purposes of the definition of greenhouse gas project in section 7 for that type of greenhouse gas project.
 (4) A report must:
 (a) be based on methods determined by the Minister under subsection 10(3), or methods which meet criteria determined by the Minister under that subsection, where the use of those methods satisfies any conditions specified in the determination under that subsection; and
 (b) include any information specified by the regulations for the purposes of this paragraph.
Civil penalty: 1,000 penalty units.
Note: Under Division 137 of the Criminal Code it may be an offence to provide false or misleading information or documents to the Regulator in purported compliance with this Act.
 (5) Without limiting paragraph (4)(b), regulations made for the purposes of that paragraph may specify different requirements for different types of greenhouse gas projects and may require information relating to the:
 (a) greenhouse gas emissions; and
 (b) energy production; and
 (c) energy consumption;
from undertaking the greenhouse gas project.
 (6) A report is taken not to be a report under this section unless:
 (a) it is given in a manner and form approved by the Regulator; and
 (b) it is given to the Regulator within a period specified in the regulations; and
 (c) subsections (3) and (4) have been complied with.