Document ID: chunk:federal_register_of_legislation:C2024C00572:section:22xn:p2
Version: federal_register_of_legislation:C2024C00572
Segment Type: section
Provision Reference: s 22XN (pt 2/2)
Character Range: 114064–115777

an entry for the unit.
 (5) The Registry must set out a record of each notice under subsection (1).

Deemed surrender—purchased Australian carbon credit units
 (6) If:
 (a) a person (the relevant person) was the responsible emitter for a facility throughout a particular period; and
 (b) during that period, one or more Australian carbon credit units were issued under the Carbon Credits (Carbon Farming Initiative) Act 2011 in respect of an eligible offsets project; and
 (c) some or all of those Australian carbon credit units are attributable to carbon abatement at the facility; and
 (d) if the units covered by paragraph (c) were issued to another person:
 (i) the relevant person consented to the other person carrying out the project; and
 (ii) the consent was given under regulations or legislative rules made for the purposes of paragraph 15(2)(h) or 27(4)(l) of the Carbon Credits (Carbon Farming Initiative) Act 2011; and
 (e) some or all of the units covered by paragraph (c) were purchased by the Commonwealth under a carbon abatement contract;
section 22XK has effect as if:
 (f) the units covered by paragraph (e) had been surrendered by electronic notice transmitted to the Regulator under subsection (1) of this section instead of being purchased by the Commonwealth under a carbon abatement contract; and
 (g) the notice surrendering the units had contained a statement to the effect that the units are being surrendered for the purpose of reducing the net emissions number for the facility for the period.
 (7) Subsection (6) does not apply in circumstances prescribed by the safeguard rules.

Division 4A—Safeguard mechanism credit units

Subdivision A—Issuing safeguard mechanism credit units