Document ID: chunk:federal_register_of_legislation:C2024C00464:clause:1_343a
Version: federal_register_of_legislation:C2024C00464
Segment Type: clause
Provision Reference: sch 1 cl 343A
Character Range: 86990–87937

343A  Carbon units issued as a result of an auction conducted by the Regulator
(1) If:
 (a) a carbon unit was issued as a result of an auction conducted by the Regulator; and
 (b) there is an entry for the unit in a person's Registry account as at 3.00 pm (by legal time in the Australian Capital Territory) on the fifth business day after the day this item commences;
the Regulator must:
 (c) cancel the unit; and
 (d) remove the entry for the unit from the person's Registry account; and
 (e) on behalf of the Commonwealth, pay to the person an amount equal to the charge paid for the issue of the unit.
(2) The Registry must set out a record of each cancellation under paragraph (1)(c).
(3) The Consolidated Revenue Fund is appropriated for the purposes of making payments under this item.
(4) In this item:
business day means a day that is not:
 (a) a Saturday; or
 (b) a Sunday; or
 (c) a public holiday in the Australian Capital Territory.