Document ID: chunk:federal_register_of_legislation:C2024C00572:section:22xnd
Version: federal_register_of_legislation:C2024C00572
Segment Type: section
Provision Reference: s 22XND
Character Range: 118602–119348

22XND  Safeguard mechanism credit units held in Commonwealth Registry accounts
 (1) Without limiting subsection 22XNA(2), the safeguard rules may provide for:
 (a) the transfer, in specified circumstances, of safeguard mechanism credit units held in a Commonwealth Registry account because of subsection 22XNB(1) to another person's Registry account; or
 (b) the cancellation, in specified circumstances, of such units.
 (2) If safeguard mechanism credit units held in a Commonwealth Registry account are cancelled in accordance with safeguard rules made for the purposes of paragraph (1)(b), the Regulator must remove the entries for those units from that account.

Subdivision B—Requirement to relinquish safeguard mechanism credit units etc.