Document ID: chunk:federal_register_of_legislation:C2012A00204:clause:1_196a:p3
Version: federal_register_of_legislation:C2012A00204
Segment Type: clause
Provision Reference: sch 1 cl 196A (pt 3/4)
Character Range: 92156–94984

in the principal class; and
 (ii) is subject to another designated limit for the financial year; and
 (d) the reference price for the secondary class of units for the designated 6‑month period is greater than or equal to the reference price for the principal class of units for the designated 6‑month period;
the adjusted reference price for the secondary class of units for the designated 6‑month period is to be disregarded for the purposes of the total of adjusted reference prices component of the formula in subsection (2).
 (15) For the purposes of this section, if:
 (a) a class of eligible international emissions units (the principal class) is subject to a designated limit for a particular financial year; and
 (b) a designated 6‑month period ends in the financial year; and
 (c) there are one or more classes of eligible international emissions units (the secondary classes) each of which:
 (i) is included in the principal class; and
 (ii) is subject to another designated limit for the financial year; and
 (iii) has a reference price for the designated 6‑month period that is less than the reference price for the principal class of units for the designated 6‑month period;
the adjusted reference price for the principal class of units for the designated 6‑month period is taken to be the amount worked out using the following formula (instead of the amount worked out under subsection (11)):
where:
designated limit percentage for principal class means the designated limit percentage for the principal class of units for the financial year.
reference price for principal class means the reference price for the principal class of units for the designated 6‑month period.
total of designated limit percentages for secondary classes means the total of the designated limit percentages for the secondary classes of units for the financial year.

Interpretation
 (16) For the purposes of this section, if:
 (a) a particular class of eligible international emissions units is subject to a designated limit for a particular financial year; and
 (b) a designated limit percentage is applicable to that designated limit;
then:
 (c) the designated limit percentage is taken to be the designated limit percentage for the class of eligible international emissions units for the financial year; and
 (d) the class of eligible international emissions units is taken to be subject to the designated limit percentage.
 (17) For the purposes of this section, listed units form a single class of eligible international emissions units.
 (18) In this section:
adjusted reference price:
 (a) has the meaning given by subsection (11); and
 (b) has a meaning affected by subsection (15).
class of eligible international emissions units means:
 (a) the class mentioned in subsection (17); or
 (b) a class specified in regulations made