Document ID: chunk:federal_register_of_legislation:C2024C00490:section:4
Version: federal_register_of_legislation:C2024C00490
Segment Type: section
Provision Reference: s 4
Character Range: 25632–26481

4  Simplified outline
  The following is a simplified outline of this Act:

         • This Act sets up a scheme for the issue of Australian carbon credit units in relation to eligible offsets projects.
         • Australian carbon credit units and certain other types of units may be purchased by the Commonwealth.
         • An Australian carbon credit unit is personal property and is generally transferable.
         • The main eligibility requirements for eligible offsets projects are as follows:
             (a) the project must be carried out in Australia;
             (b) the project must be covered by a methodology determination made under this Act.
         • A methodology determination is made having regard to the offsets integrity standards set out in this Act.
         • This Act is administered by the Clean Energy Regulator.