Document ID: chunk:federal_register_of_legislation:C2024C00490:section:97:p1
Version: federal_register_of_legislation:C2024C00490
Segment Type: section
Provision Reference: s 97 (pt 1/4)
Character Range: 191511–194102

97  Carbon maintenance obligation

Relevant area of land
 (1) For the purposes of this section, each of one or more areas of land is a relevant area of land if:
 (a) the following conditions are satisfied:
 (i) a sequestration offsets project is or was an eligible offsets project;
 (ii) a notice was given under section 88, 89, 90 or 91 in relation to the project;
 (iii) the area was, or the areas were, identified in the relevant section 27 declaration as the project area or project areas for the eligible offsets project;
 (iv) the notice required a person to relinquish a particular number of Australian carbon credit units;
 (v) the person did not comply with the requirement within 90 days after the notice was given; or
 (b) the following conditions are satisfied:
 (i) a sequestration offsets project is or was an eligible offsets project;
 (ii) a notice was given under section 88, 89, 90 or 91 in relation to the project;
 (iii) the area was, or the areas were, identified in the relevant section 27 declaration as the project area or project areas for the eligible offsets project;
 (iv) the notice required a person to relinquish a particular number of Australian carbon credit units;
 (v) the Regulator is satisfied that it is likely that the person will not comply with the requirement within 90 days after the notice was given; or
 (c) the Regulator is satisfied that:
 (i) a sequestration offsets project is or was an eligible offsets project; and
 (ii) it is likely that a notice will be given under section 88, 89, 90 or 91 in relation to the project; and
 (iii) the area is, or the areas are, identified in the relevant section 27 declaration as the project area or project areas for the eligible offsets project; and
 (iv) the notice is likely to require a person to relinquish a particular number of Australian carbon credit units; and
 (v) it is likely that the person will not comply with the requirement within 90 days after the notice is given.

Declaration
 (2) The Regulator may, by writing, declare that:
 (a) a specified area, or one or more of specified areas, of land are subject to a carbon maintenance obligation; and
 (b) an activity (if any) specified in the declaration is a permitted carbon activity in relation to the area or areas of land for the purposes of this Act.
Note: For specification by class, see the Acts Interpretation Act 1901.
 (2A) A specified area must consist of the whole or a part of a relevant area of land.
 (3) If an area or areas of land are subject to a carbon maintenance obligation, the carbon maintenance obligation relates