Document ID: chunk:federal_register_of_legislation:C2024C00490:section:49
Version: federal_register_of_legislation:C2024C00490
Segment Type: section
Provision Reference: s 49
Character Range: 139441–141084

49  Issue of Australian carbon credit units to special native title account

Scope
 (1) This section applies if a registered native title body corporate is taken, under section 46, to be the project proponent for an eligible offsets project.

Application for issue of Australian carbon credit units
 (2) If the registered native title body corporate makes an application under section 12 for the issue of a certificate of entitlement in respect of the project for a reporting period, paragraph 13(1)(c) does not apply to the application.
Note: Paragraph 13(1)(c) requires the application to set out the account number of a Registry account.

Issue of Australian carbon credit units
 (3) If:
 (a) a special native title account for the project is kept in the name of the registered native title body corporate; and
 (b) apart from this subsection, the Regulator is required under section 11 to issue one or more Australian carbon credit units to the registered native title body corporate in relation to the eligible offsets project;
then:
 (c) the Regulator must comply with the requirement by issuing the units to the registered native title body corporate and making an entry for the units in the special native title account; and
 (d) subsections 11(5) and (6) do not apply to the issue of the units.
 (4) If:
 (a) there is not a special native title account for the project; and
 (b) apart from this subsection, the Regulator is required under section 11 to issue one or more Australian carbon credit units to the registered native title body corporate in relation to the eligible offsets project;
the Regulator must not issue the units.