Document ID: chunk:federal_register_of_legislation:F2018L00560:clause:1_28:p2
Version: federal_register_of_legislation:F2018L00560
Segment Type: clause
Provision Reference: sch 1 cl 28 (pt 2/2)
Character Range: 50840–52189

2014.
Note 2: For continuing transferring projects that became eligible offsets projects after that date, see section 69 of the Act.
 (5) For paragraph 69(2)(b) of the Act, if:
 (a) a savanna emissions avoidance project is a continuing transferring project; and
 (b) the methodology determination that applied to the project immediately before this determination was a savanna sequestration determination (the previous determination); and
 (c) while the previous determination applied to the project, the project's crediting period was not calculated in accordance with subsection 28(1) of the previous determination (that is, the length of the project's crediting period was 25 years);
  the period of 25 –­ N years is specified, where N is calculated in accordance with paragraph 28(1)(c) or paragraph 28(1)(d) of the previous determination, as appropriate, as if, while the previous determination had applied to the project, its crediting period had been calculated in accordance with subsection 28(1).
Note: Subsection (5) will apply only after the commencement of the Carbon Credits (Carbon Farming Initiative) Amendment Act 2018. Until that Act commences, it will not be possible for a continuing transferring project to have as its former determination a savanna sequestration determination.
Part 4—Net abatement amount
Division 1—Preliminary