Document ID: chunk:federal_register_of_legislation:C2024C00490:section:20c
Version: federal_register_of_legislation:C2024C00490
Segment Type: section
Provision Reference: s 20C
Character Range: 71911–72910

20C  When carbon abatement contracts may be entered into
 (1) The Regulator may enter into a carbon abatement contract under section 20B as the result of a carbon abatement purchasing process conducted by the Regulator under section 20G.
 (2) The Regulator must not enter into a carbon abatement contract under section 20B unless the carbon abatement contractor for the contract is a project proponent for an eligible offsets project.
Note:  For declarations of eligible offsets projects, see section 27. The requirements for such a declaration include that the project proponent for the project passes the fit and proper person test.
 (3) The Regulator must not enter into a carbon abatement contract under section 20B (otherwise than by way of novation) if any of the eligible carbon credit units to be purchased under the contract:
 (a) were issued; or
 (b) at the time of purchase, would have been issued;
in respect of an eligible offsets project of a kind specified in the legislative rules.