Document ID: chunk:federal_register_of_legislation:F2024C01008:reg:63
Version: federal_register_of_legislation:F2024C01008
Segment Type: reg
Provision Reference: reg 63
Character Range: 72924–74193

63  Correcting reserve HFC quotas

Varying size of reserve HFC quotas
 (1) If, after a reserve HFC quota is allocated to a person for a calendar year, the Minister becomes satisfied that the size of the quota is inappropriate, the Minister must, by written notice given to the person, vary the size of the reserve HFC quota.
Note: For the size of a reserve HFC quota, see subregulation 62(2) and subsection 36G(4) of the Act.
 (2) A variation of a reserve HFC quota under subregulation (1) has effect from the start of the calendar year.

Cancelling reserve HFC quotas
 (3) The Minister may, by written notice given to a person, cancel a reserve HFC quota allocated to the person for a calendar year if:
 (a) all of the consignments referred to in paragraph 62(1)(b), in respect of which the quota was allocated, were imported in the previous calendar year; or
 (b) the total quantity of HFCs, expressed in CO2e megatonnes, involved in regulated HFC activities engaged in by the person during the previous calendar year equals or exceeds the person's HFC quota for that previous calendar year.
 (4) A reserve HFC quota cancelled under subregulation (3) is taken never to have been in force and never to have been allocated.

Subdivision 4A.4.4—Reserve HFC quota limit