Document ID: chunk:federal_register_of_legislation:C2024C00490:section:174
Version: federal_register_of_legislation:C2024C00490
Segment Type: section
Provision Reference: s 174
Character Range: 270710–271449

174  Simplified outline
  The following is a simplified outline of this Part:

         • If a person is the registered holder of one or more Australian carbon credit units, the person may, by electronic notice transmitted to the Regulator, relinquish any or all of those units.
         • An administrative penalty is payable for non‑compliance with a relinquishment requirement under this Act.
Note 1: A person may voluntarily relinquish Australian carbon credit units in order to satisfy a condition for revocation of a section 27 declaration in relation to an offsets project.
Note 2: A person may be required to relinquish Australian carbon credit units under Part 7.

Division 2—How Australian carbon credit units are relinquished