Document ID: chunk:federal_register_of_legislation:C2012A00204:clause:1_59
Version: federal_register_of_legislation:C2012A00204
Segment Type: clause
Provision Reference: sch 1 cl 59
Character Range: 69420–70065

59  After subsection 101(1)
Insert:
 (1A) Subsection (1) does not apply to carbon units with the vintage year beginning on 1 July 2015 that are issued as a result of auctions that are conducted by the Regulator during the financial year beginning on 1 July 2013.
 (1B) The Regulator must ensure that not more than 40 million carbon units with the vintage year beginning on 1 July 2015 are issued as a result of auctions that were conducted by the Regulator during the financial year beginning on 1 July 2013 if there are no regulations in effect that declare the carbon pollution cap, and the carbon pollution cap number, for the vintage year.