Commonwealth Consolidated Acts

AUSTRALIAN NATIONAL REGISTRY OF EMISSIONS UNITS ACT 2011 - SECT 33

  (1)   For the purposes of this Act, if there is an entry for a Kyoto unit in a Registry account (the first Registry account ) kept by a person (the first person ):

  (a)   a transfer of the unit from the first Registry account to a Registry account kept by another person consists of:

  (i)   the removal of the entry for the unit from the first Registry account; and

  (ii)   the making of an entry for the unit in the Registry account kept by the other person; and

  (b)   the transfer of the unit from the first Registry account to another Registry account kept by the first person consists of:

  (i)   the removal of the entry for the unit from the first Registry account; and

  (ii)   the making of an entry for the unit in the other Registry account kept by the first person; and

  (c)   the transfer of the unit from the first Registry account to a foreign account kept by another person consists of:

  (i)   the removal of the entry for the unit from the first Registry account; and

  (ii)   the making of an entry for the unit in the foreign account kept by the other person; and

  (d)   the transfer of the unit from the first Registry account to a foreign account kept by the first person consists of:

  (i)   the removal of the entry for the unit from the first Registry account; and

  (ii)   the making of an entry for the unit in the foreign account kept by the first person.

  (2)   For the purposes of this Act, if there is an entry for a Kyoto unit in a foreign account, a transfer of the unit from the foreign account to a Registry account consists of:

  (a)   the removal of the entry for the unit from the foreign account; and

  (b)   the making of an entry for the unit in the Registry account.