Document ID: chunk:federal_register_of_legislation:C2025C00178:section:39
Version: federal_register_of_legislation:C2025C00178
Segment Type: section
Provision Reference: s 39
Character Range: 40674–41706

39  Interim emissions value less than zero
 (1) If a person's interim emissions value for a year beginning on or after 1 January 2025 is less than zero, the Secretary must:
 (a) issue a number of units to the person that is equal to the absolute value of the person's interim emissions value for the year; and
 (b) do so as soon as practicable after the interim reconciliation day for the year.
Example: If a person's interim emissions value for a year is ‑200, the absolute value is 200 and, if the person has a registry account, they will be issued 200 units.
 (2) However, if:
 (a) the Secretary is required to issue a unit to a person under subsection (1) as soon as practicable after the interim reconciliation day for a year; and
 (b) the person does not have a registry account; and
 (c) the person does not apply under section 53, within one year after that day, for the Secretary to open an account in the Registry in the person's name;
then, despite that requirement, the Secretary must not issue the unit to the person.