Commonwealth Consolidated Acts

AUSTRALIAN NATIONAL REGISTRY OF EMISSIONS UNITS ACT 2011 - SECT 28A

Scope

  (1)   This section applies if the Regulator receives an instruction to transfer one or more:

  (a)   Australian carbon credit units; or

  (b)   Kyoto units; or

  (c)   safeguard mechanism credit units;

to or from a Registry account kept in the name of a person.

Regulator may defer giving effect to the instruction

  (2)   The Regulator may defer giving effect to the instruction, for a period that ends not later than the end of the fifth business day after the day on which the instruction was received, if the Regulator is satisfied that it is prudent to do so in order to:

  (a)   ensure the integrity of the Registry; or

  (b)   prevent, mitigate or minimise abuse of the Registry; or

  (c)   prevent, mitigate or minimise criminal activity involving the Registry.

Prior notice not required

  (3)   The Regulator is not required to give any prior notice of a deferral under subsection   (2).

Other provisions

  (4)   This section has effect despite:

  (a)   any other provision of this Act; or

  (b)   anything in the Carbon Credits (Carbon Farming Initiative) Act 2011 .