Document ID: chunk:federal_register_of_legislation:C2014A00119:clause:1_388a
Version: federal_register_of_legislation:C2014A00119
Segment Type: clause
Provision Reference: sch 1 cl 388A
Character Range: 127824–129839

388A  Transitional—special rules for designated Verified Carbon Standard projects

Designated Verified Carbon Standard project
(1) For the purposes of this item, an offsets project is a designated Verified Carbon Standard project if:
 (a) the project was registered under the Verified Carbon Standard at any time before the commencement of this item; and
 (b) the project is, or is to be, carried on in Australia.

Methodology determination
(2) If:
 (a) after the commencement of this item, the Minister makes a methodology determination that is expressed to apply to a particular kind of designated Verified Carbon Standard project; and
 (b) the determination is expressed to have come into force at the start of a specified day; and
 (c) the specified day is earlier than the day on which the determination is made; and
 (d) the specified day is not earlier than 1 January 2013;
then:
 (e) paragraph 122(1)(a) of the new law does not apply to the determination; and
 (f) the determination comes into force at the start of the specified day.

Declaration of eligible offsets project
(3) If, during the period:
 (a) beginning at the commencement of this item; and
 (b) ending at the end of 30 June 2015;
a person makes an application to the Regulator under section 22 of the new law for the declaration of a designated Verified Carbon Standard project as an eligible offsets project:
 (c) paragraph 27(4)(d) and subsection 27(4A) of the new law do not apply for the purposes of the Regulator making a decision on the application; and
 (d) if a declaration made in response to the application is expressed to take effect on a specified day, and:
 (i) the specified day is earlier than the day on which the declaration is made; and
 (ii) the specified day is not earlier than 1 January 2013; and
 (iii) the applicant has consented to the specification of the specified day;
  then:
 (iv) subsection 27(15) of the new law does not apply to the declaration; and
 (v) the declaration takes effect on the specified day.