Document ID: chunk:federal_register_of_legislation:C2024C00464:clause:1_353
Version: federal_register_of_legislation:C2024C00464
Segment Type: clause
Provision Reference: sch 1 cl 353
Character Range: 92655–93348

353  Issue of additional free carbon units
(1) If:
 (a) a person has an under‑allocation of free carbon units; and
 (b) the person has a Registry account;
the Regulator must:
 (c) issue to the person, under section 94 of the Clean Energy Act 2011, a number of free carbon units equal to the number of units in the under‑allocation; and
 (d) do so within the period ascertained in accordance with the rules.
(2) Free carbon units issued in accordance with subitem (1):
 (a) are to have a vintage year beginning on 1 July 2013; and
 (b) are taken (except for the purposes of this Part) to have been issued in accordance with the Jobs and Competitiveness Program.

Division 4—True‑up shortfalls