Document ID: chunk:federal_register_of_legislation:C2023A00014:clause:2_48d
Version: federal_register_of_legislation:C2023A00014
Segment Type: clause
Provision Reference: sch 2 cl 48D
Character Range: 61785–62835

48D  Transmission of safeguard mechanism credit units by assignment
 (1) A transmission by assignment of a safeguard mechanism credit unit for which there is an entry in a Registry account is of no force until:
 (a) the transferor, by electronic notice transmitted to the Regulator, instructs the Regulator to transfer the unit from the relevant Registry account kept by the transferor to a Registry account kept by the transferee; and
 (b) the Regulator complies with that instruction.
 (2) An instruction under paragraph (1)(a) must set out:
 (a) the account number of the transferor's Registry account; and
 (b) the account number of the transferee's Registry account.
 (3) If the Regulator receives an instruction under paragraph (1)(a), the Regulator must comply with the instruction as soon as practicable after receiving it.
 (4) The Registry must set out a record of each instruction under paragraph (1)(a).
 (5) If the transferor is the Commonwealth, the Minister may give an instruction under paragraph (1)(a) on behalf of the transferor.