Document ID: chunk:federal_register_of_legislation:F2015L00060:reg:41:p1
Version: federal_register_of_legislation:F2015L00060
Segment Type: reg
Provision Reference: reg 41 (pt 1/2)
Character Range: 51339–54264

41  Calculation and accrual of legacy abatement portions
 (1) The legacy abatement portions for a transitioning project, in tonnes CO2‑e, are worked out using the formula (equation 21):
where:
ACFI,y means legacy abatement portion ACFI,1, ACFI,2 or ACFI,3, in tonnes CO2‑e.
ACFI,N means the carbon dioxide equivalent net abatement amount, in tonnes CO2‑e, that was:
 (a) the carbon dioxide equivalent net abatement amount for the project in relation to the reporting period that started when the declaration of the project as an eligible offsets project under section 27 of the Act took effect; and
 (b) worked out under the applicable equation for the project that was in force for the purposes of calculating that amount for that reporting period.
ACFI,C means the amount that is the sum of the number of unit entitlement specified in each certificate of entitlement issued in respect of the project for each reporting period that ended before this determination became the applicable methodology determination for the project, in tonnes CO2‑e.
Note 1: ACFI,N will generally be the carbon dioxide equivalent net abatement amount included in the offsets report about the project for the reporting period that started when the declaration of the project as an eligible offsets project under section 27 of the Act took effect.
Note 2: The result of subtracting ACFI,C from ACFI,N is divided by 3 because this is the number of years remaining, after 1 July 2014, in the 7‑year period that started on 1 July 2010.
 (2) The legacy abatement portions accrue as follows:
 (a) ACFI,1 accrues 1 year after the start of the first reporting period for the project;
 (b) ACFI,2 accrues 2 years after the start of the first reporting period for the project;
 (c) ACFI,3 accrues 3 years after the start of the first reporting period for the project.
 (3) Section 8 does not apply to a calculation under this section.
 (4) In this section:
applicable equation, for a transitioning project in relation to a reporting period, means:
 (a) if the Carbon Credits (Carbon Farming Initiative) (Avoided Emissions from Diverting Legacy Waste from Landfill for Process Engineered Fuel Manufacture) Methodology Determination 2012 was the applicable methodology determination for the project during the reporting period—equation 9 of that determination; or
 (b) if the Carbon Credits (Carbon Farming Initiative) (Avoided Emissions from Diverting Legacy Waste through a Composting Alternative Waste Technology) Methodology Determination 2013 was the applicable methodology determination for the project during the reporting period—equation 11 of that determination; or
 (c) if the Carbon Credits (Carbon Farming Initiative) (Diversion of Legacy Waste to an Alternative Waste Treatment Facility) Methodology Determination 2013 was the applicable methodology determination for the project during the reporting period—equation 15 of that determination; or