Document ID: chunk:federal_register_of_legislation:C2024C00517:section:11
Version: federal_register_of_legislation:C2024C00517
Segment Type: section
Provision Reference: s 11
Character Range: 24978–26163

11  Opening of Registry accounts—identification procedures
 (1) The regulations may prescribe identification procedures that must be carried out by the Regulator before the Regulator opens a Registry account in the name of the person.
 (2) The regulations may declare that a specified number is a transaction limit for the purposes of this section.
 (3) The regulations may make provision for identifying Registry accounts that are subject to a transaction limit.
 (4) An identification procedure prescribed under regulations made for the purposes of subsection (1):
 (a) may be expressed to apply to Registry accounts that are subject to a transaction limit; or
 (b) may be expressed to apply to Registry accounts that are not subject to a transaction limit.
 (5) The regulations may provide that, if a Registry account is subject to a particular transaction limit, the Regulator must not:
 (a) issue to the account any:
 (i) Australian carbon credit units; or
 (ii) safeguard mechanism credit units; or
 (b) comply with an instruction to transfer units to the account;
if doing so would result in the account having entries for a number of units that exceeds the transaction limit.