Document ID: chunk:federal_register_of_legislation:C2024C00490:section:11
Version: federal_register_of_legislation:C2024C00490
Segment Type: section
Provision Reference: s 11
Character Range: 58969–60877

11  Issue of Australian carbon credit units in respect of offsets projects

Scope
 (1) This section applies if a certificate of entitlement is in force in respect of an eligible offsets project for a reporting period.
Note: For certificate of entitlement, see section 15.

Issue of units
 (2) If the project has resulted in eligible carbon abatement, the Regulator must, as soon as practicable after the day on which the certificate was issued, issue to the holder of the certificate a number of Kyoto Australian carbon credit units equal to the number specified in the certificate as the unit entitlement for that certificate.
 (3) If the project has not resulted in eligible carbon abatement, the Regulator must, as soon as practicable after the day on which the certificate was issued, issue to the holder of the certificate a number of non‑Kyoto Australian carbon credit units equal to the number specified in the certificate as the unit entitlement for that certificate.
 (5) The Regulator must not issue an Australian carbon credit unit to a person in accordance with subsection (2) or (3) unless the person has a Registry account.
Note 1: See also section 49 (issue of Australian carbon credit units to registered native title bodies corporate).
Note 2: See also section 141 (issue of Australian carbon credit units in relation to projects with multiple project proponents).
 (6) The Regulator must issue an Australian carbon credit unit to a person in accordance with subsection (2) or (3) by making an entry for the unit in the person's Registry account the account number of which is specified in the certificate.
Note 1: See also section 49 (issue of Australian carbon credit units to registered native title bodies corporate).
Note 2: See also section 141 (issue of Australian carbon credit units in relation to projects with multiple project proponents).

Division 3—Certificate of entitlement